Hunt on the prowl for new Peru acreage

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Friday, September 22, 2017

Hunt Oil, which recently returned Peru exploration block 76, could be eyeing new acreage in the country, BNamericas has learned.

According to information from hydrocarbons licensing authority Perúpetro, the US company has expressed interest in areas of former blocks 175, 180 and U-5.

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Hunt looks to negotiate the signing of a technical evaluation agreement (CET) which is used to acquire geological and geophysical work in areas with little information.

Other companies that look to ink CETs are Global Petroleum, Century Petroleum, Northern Hydrocarbon and Repsol Exploración.

Current CETs are held by Cepsa and Northern Hydrocarbon for areas XLIV (447,127ha, central jungle) and XLIII (44,596ha, northwest), respectively.

BLOCK 76

Perúpetro confirmed that the reason for block 76's return to the state was that the contractor required an additional two years to the three-year extension granted to define a new prospect after drilling exploration well Dahuene 1X.

"In that sense, the contractor took the decision not to pass to the fifth period of the exploration phase (12 months) whose minimum work program consisted of drilling one exploration well," said the authority.

BLOCK 192

Meanwhile, Perúpetro qualified the consortium comprising state oil company Petroperú and Canada's Frontera Energy to enter into direct negotiations for the operation of block 192 (pictured).

Frontera subsidiary Pacific Stratus Energy currently operates the block under a temporary contract.

In other sector news, Baron Oil said in its latest interim results that it is unlikely that an exploration well will be spud at the Cuy prospect on block Z-34 before late 2018 because of logistical and permitting hurdles.

Baron also expects further delays for planned exploratory drilling at block XXI until a gas tariff issue is resolved.