Perupetro to Sign Three Exploration Contracts
Peru's hydrocarbons promotions agency Perupetro reported it will sign three exploration contracts July 14 with Irish firm Pan Andean Resources (LSX: PRE), US company Barrett Resources and local group Petro-Tech Peruana.
Pan Andean's contract covers block 114 (770,728ha) in the Ucayali basin that spans Ucayali and Huanaco departments. Investment is estimated at US$23.5mn, Perupetro said in a statement.
Barret will explore block 121 (351,933ha) in Loreto department's Maranon basin, with investment pegged at US$45.5mn.
Petro-Tech Peruana's contract is for block Z-36 (999,995ha) that covers Ancash and Lima departments, which will require US$20mn.
The contracts' exploration phase will run seven years, with a possible three-year extension. The contracts' maximum length is 30 years for oil and 40 for natural gas.
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- Pan Andean Makes Headway at Peruvian Ucayali Blocks (Jun 18)
- Seismic Acquisition Under Way over Block 114 in Peruvian Jungle (May 19)
- Pan Andean Commences Survey over Block 141 in Titicaca Basin (May 15)
Company: Petro-Tech more info
- Perupetro to Sign Three Exploration Contracts (Jul 14)
- Perupetro to Sign 3 Exploration Contracts July 14 (Jul 05)
- Offshore International Group Announces Peruvian Discovery (Jun 10)
Company: Perupetro more info
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