Contracts to carry out E&P in Tarija department were inked in November.
Both companies announced that PAE will take over from April 1.
Environmental licensing authority Anla has accused the state energy company of failing to activate an adequate contingency plan in response to an oil spill in Santander department.
Major IOC's loaded up on offshore economies of scale in the shallow water auction by bidding on clusters often adjacent to areas they won in previous rounds.
Some Peruvian legislators envision a greater state role across the sector's value chain.
Oil companies and suppliers were neither fully satisfied nor wholly disappointed with the new minimum requirements recommended for older licenses.