Anadarko advances Peru plans

By
Tuesday, July 11, 2017

Anadarko Petroleum's potential participation in Peru's upstream hydrocarbons sector received a boost after the Houston-based operator received authorization to begin contract talks.

Information from hydrocarbons licensing authority Perupetro reveals that the company looks to sign E&P license contracts for blocks Z-61, Z-62 and Z-63 in the Trujillo offshore basin (see map below).

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BNamericas reported last year that Anadarko had visited the government agency's data room.

Perupetro has now qualified the company to prepare for direct negotiations related to the acreage.

The licensing authority also reported that Tullow Oil recently visited the data room, and that evaluation technical agreement (CET) requests have been filed by Century Petroleum, Global Petroleum, Northern Hydrocarbon and Repsol Exploración.

A CET is used to acquire geological and geophysical work in areas with little information.

Northern Hydrocarbon already holds a CET for northwest area XLIII (44,596ha) that expires on July 31, 2018. Another CET is held by Cepsa for northwest area XLIV (447,127ha) that expires on June 6, 2018.

INVESTMENT

The latest developments come amid an uptick in production investment, although exploration spend continues at depressed levels as companies focus on maintaining output in the less than favorable operating environment.

Production and exploration investment in the first four months of the year totaled US$93.9mn and US$5.74mn, respectively, compared with US$75.5mn and US$17.9mn in January-April 2016, according to Perupetro figures.

Also Read Will Perupetro shuffle revive lackluster upstream sector?

SOURCE: Perupetro