Perupetro to start promoting new E&P round in February - Peru | Amazon Watch
Amazon Watch

Perupetro to start promoting new E&P round in February – Peru

January 5, 2010 | Business News Americas

Peru’s state hydrocarbons promotion agency Perupetro will next month kick off a road show to promote a new E&P round, according to agency head Daniel Saba.

The agency will participate in the NAPE Expo in Houston in February and Latin Oil Week in Rio de Janeiro in March, state news agency Andina quoted Saba as saying.

The goal is to launch the round for 20 onshore blocks end-April, the official said. The majority of areas are in the Amazon and one or two on the coast in Piura region.

Offshore blocks will not be offered in this round due to work underway by companies in these areas, but could be offered in 2011, according to Saba.

The round is part of a government push to increase exploration with the aim of becoming a net hydrocarbons exporter in coming years. If hydrocarbons are encountered, the average royalty companies will pay is 30% of the value of the oil or gas production, BNamericas previously reported.

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