PeruPetro to Sign Four E&P Contracts Thursday

Peru's hydrocarbons promotion agency PeruPetro will sign four E&P contracts with two companies on Thursday for blocks 118, 119, 120 and XXI, the agency said in a statement.

US oil company Amerada Hess (NYSE: AHC) will sign the contracts for blocks 118, 119 and 120, which are located between Loreto and San Martin departments, Loreto and Ucayali departments and Loreto and Huanuco departments respectively, according to the statement.

British oil junior Gold Oil will sign for block XXI, located between Piura and Lambayeque departments.

Amerada Hess currently holds contracts for blocks 64 and 101 in the Maranon basin, while Gold Oil is exploring for hydrocarbons in the Z-34 block in northeast Peru.

PeruPetro also awarded the E&P contract for block B-04 in the northern Maranon basin to a consortium of Canadian oil companies Loon Energy (TSX: LEY) and Tusk Energy (TSX: TSK).

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