Consulting firm submits report on natural gas reserves at Camisea

Texas-based oil and gas consulting firm Netherland, Sewell & Associates (NSAI) reported in a final study on Monday that the best estimate for Blocks 56 and 88 in Peru’s Camisea gas fields hold 15.92 trillion cubic feet (TCF) of natural gas, state news agency Andina reported

“We have conducted an engineering and economic analysis on the existing reserves in Blocks 56 and 88 in Camisea, and we have developed a completely independent interpretation,” NSAI representative Zack Warren was quoted as saying.

Peru has signed export contracts to send approximately 4TCF of natural gas to Mexico over the next 18 years. Regional governments have expressed concern that the exports would not leave sufficient gas for Peru’s growing local demand.

NSAI’s maximum estimate for Blocks 56 and 88 is 18.56TCF, while the minimum estimate is 11.18TCF.

“These volumes are net, which [means that they] will be available to be transported by the pipeline,” Warren said.

Previous estimates at Blocks 56 and 88 by international advisory firm Gaffney, Cline & Associates put the best estimate of recoverable natural gas at 13TCF, with the minimum estimate at 10.6TCF and maximum estimate at 14.7TCF.

The Camisea gas project is considered one of Latin America’s key energy infrastructure projects. The consortium that runs the project includes Argentina’s Pluspetrol, Repsol of Spain, U.S.-based Hunt Oil, and South Korea’s SK Energy.

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