Peru Approves Ecopetrol Entrance to Maranon Basin
With the publication of Supreme Decree 033-2010-MEM/DM of June 11, 2010, the Peruvian Government authorized Perupetro S.A. to sign an amendment to the License Contract for the exploration and exploitation of hydrocarbons in Lot 117, pursuant to which Petrobras Energia del Peru S.A. ("Petrobras) will cede 25% of its ownership interest in such lot to Ecopetrol del Peru S.A., a subsidiary of Ecopetrol S.A.
Lot 117 is located on the Peruvian-Colombian border, in the Maynas Province of the Department of Loreto and has an area of 1,368,523 hectares.
The amendment stipulates that Ecopetrol will have a 25% participation in Lot 117, which is operated by Petrobras, whose ownership interest will now decrease to 50%. The remaining 25% will continue to be owned by the Peruvian branch of Inpex North Peru Ltd.
Plans are currently underway for the acquisition of seismic information on Lot 117, which will bring better knowledge and definition of the lot's potential.
With the amendment approval, Ecopetrol will be able to consolidate its globalization process, especially in Peru, where it already participates in exploration blocks with companies such as Talisman.
Operates 34 Offshore Rigs
Manages 10 Offshore Rigs
- Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects (Dec 14)
- Natural Gas In Petrobras Pipelines Up About 23% In 2017 (Dec 05)
- Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO (Nov 15)
Company: Perupetro more info
- Peru Says Will Cut Royalties In Current Oil Contracts By July (Feb 03)
- Peru To Cut Oil, Gas Royalties To 5% To Counter Price Slump (Nov 11)
- Government: Peru's Biggest Oil Block Fails to Receive Any Bids (Aug 05)