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Amy.Offord_111 Nov 15

PERUPETRO ANNOUNCES US$90 MILLION INVESTMENT OPPORTUNITY

PERUPETRO ANNOUNCES US$90 MILLION INVESTMENT OPPORTUNITY image
PRESS RELEASE: INVESTMENT OPPORTUNITY REGARDING HYDROCARBON EXPLORATION IN THE UCAYALI REGION
November 2019: Call for international tender’s - exploration and production of Block 201
  • Potential at the Ucayali Basin Attracts Investor Interest
  • PERUPETRO fulfilled its duty to carry out a process of citizen participation, which included active participation of authorities and communities
  • Block 201 will be allocated to the company that offers the largest amount of investment in exploration of the lot.
PERUPETRO S.A., Lead Sponsor of the Latin America and Caribbean Gas Conference (14-15 November in Lima, Peru) has announced an international call for the selection process to award a Licence Contract for the Exploration and Production of Hydrocarbons in Block 201, located between the districts of Iparia and Masisea in the province of Coronel Portillo and the districts of Tahuania and Yurúa in the province of Atalaya, Ucayali region.

PERUPETRO S.A. has carried out Face-to-Face Citizen Participation Events, with the active participation of regional and local authorities, and the communities located in the areas of influence within the Contract area. In this way PERUPETRO fulfils its objective of socializing the projects, which is part of the promoting investments in hydrocarbons.

The Ucayali basin has a high hydrocarbon potential, despite being a semi-explored basin. This basin has a cumulative production of more than 35 million barrels of oil, 304 million barrels of liquefied natural gas, and 5.1 trillion cubic feet of natural gas. In addition, in this lot there has been a discovery of high quality light oil (44, 53, API), in the well called Sheshea 1X. This block is estimated to require an investment of 90 million dollars during the exploratory stage, and in case of a commercial discovery of hydrocarbons, the investments required would be greater.

The block will be granted to the company which commits the largest amount of investment for the exploration works in the Block. This investment will be expressed in terms of the number of boreholes, 2D seismic kilometres, 3D seismic km2, or other exploratory activities.  PERUPETRO S.A. has published on its website the selection process bases, which is freely accessible information to all interested parties.

PERUPETRO, commissioned by the Peruvian State, promotes investment in hydrocarbons to promote the discovery of new reserves that guarantee the country’s energy security and independence, and this selection process is in line with the fulfilment of these objectives.