Pan Andean Commences Survey over Block 141 in Titicaca Basin
Pan Andean announced that an aero-gravimetric and magnetometric survey has commenced on Block 141 in the Titicaca basin of the Peruvian Andes, close to Lake Titicaca. The survey will acquire 7,348 kilometers of data covering the entire block. The block operator is Reliance Exploration & Production DMCC, a subsidiary of Reliance Industries Limited, India, (Reliance).
The license on Block 141, covering 516,892 hectares, is held by Pan Andean (10%) and Reliance (90%). Pan Andean has the right to increase its stake up to 30% under certain conditions.
The airborne survey is expected to reveal anomalies and leads that may result in further exploration work including a 300km seismic acquisition program.
Growing interest in the area around Block 141 is shown by recent signature of a neighbouring block 155 by Pluspetrol, Reliance, CNPC & Petroperu as well as Block 156 by GPS, both signed in April 2009 following the last Peruvian bid round.
- India's Reliance Declares 30pct Higher Refinery Capacity at Export Plant (Jan 17)
- OPEC's Output Curbs Squeeze World's Biggest Oil Refining Complex (Oct 16)
- India's Reliance Industries 2Q Profit Up 7%, Lags Estimates (Oct 13)
Company: Pluspetrol more info
- Government: Bids on Peru's Biggest Oil Block to Start in April (Mar 06)
- Pluspetrol Interested in Bidding on Peru's Biggest Oil Block (Feb 11)
- Argentina's Pluspetrol to Buy Apco Oil and Gas for $427 Million (Oct 03)
Company: CNPC more info
- Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO (Nov 15)
- CNPC Plans to Cut Gas Supplies to Industrial Users-State Media (Nov 06)
- China's CNPC Starts Third Natural Gas Pipeline To Shanghai (Oct 13)
Company: Pan Andean Resources more info
- 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: Petroperu more info
- Company: Explosion At Petroperu Crude Oil Tank Kills Two Workers (Dec 06)
- Peru Crude Oil Pipeline Resumes Operation After Year Of Spills (Sep 26)
- Peru To Issue Up To $3B In Bonds To Finance State-Run Oil Firm (Apr 18)