Gran Tierra to submit Peru plan next year - CEO

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Friday, November 7, 2014

Gran Tierra Energy intends to submit in March or April a development plan to Peru's government for the Bretaña field on block 95, CEO Dana Coffield said.

An appraisal well is due to be spud on the Marañon basin acreage next month when long-term production also is scheduled to begin. Output is expected to reach 2,500b/d.

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In a presentation, the executive said FEED work is underway and that, if the company accelerates development, additional funding would be required, such as project financing.

Coffield added the firm had not envisioned funding development entirely from cashflow and that lenders constantly offer financing but that there had been no substantive discussions.

Gran Tierra's regional footprint includes Brazil and Colombia.

BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.