Roundup: Camisea blocks, Enap, Karoon Gas

- Tuesday, June 8, 2010

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Peruvian legislators from different political parties agreed on the need to establish an investigative committee to carry out an additional review of alleged irregularities in production license contracts for Camisea blocks 88 and 56, congress reported.

The news followed an extraordinary session of the energy and mines committee where reports submitted by a workgroup tasked with reviewing the contracts were heard and debated.

The contract for block 88 was illegally modified to favor the export of gas to Mexico and the contract for block 56 was done without an international call for bids, according to workgroup coordinator Jose Carrasco.

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Chile's state oil company Enap submitted an EIA to drill the Teno A hydrocarbons exploration well in southern region XII.

The US$2.5mn project entails drilling the well in the Teno deposit in Tierra del Fuego province, according to the document filed with national environment authority Conama.

If hydrocarbons are found, a flow line would be built to connect the well with Enap's Sara production plant.

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And Karoon Gas Australia announced the possibility of a separate stock exchange listing for its Brazilian and Peruvian asset portfolio following an evaluation of a report from DeGolyer & McNaughton.

"Karoon believes that companies with South American exploration assets, whose shares are listed on overseas exchanges, achieve far greater value for their assets than that achieved by Karoon in Australia."

Brazil's Sao Paulo bourse Bovespa is the likely exchange of choice for this possible listing, Karoon said in a statement.

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