PetroTech announces probable oil reserves of 1.13 billion barrels off Peru’s north coast

PetroTech Peruana, exploring in the continental shelf offshore from Piura and Lambayeque in northern Peru, announced proven probable reserves of 1.132 billion barrels of high quality oil in several structures in Block Z-6. The company’s exploration manager, Enrique Gonzales, told Andina news agency that the San Miguel oil well alone has proven probable reserves of [...]

Energy investment to increase electric generation

The National Society for Mining, Petroleum and Energy, Snmpe, announced a plan today to develop four projects that will increase electric generation by 770 megawatts. The president of Snmpe’s electric committee, Ignacio Blanco, told Agencia Andina the projects will require an investment of between $400 and $500 million and has a planned completion date for [...]

Authorities estimate new oil reserves in northeast Peru

Authorities from the Energy and Mines Ministry estimate that two blocks in Peru’s north eastern Loreto Department contain some 500 million barrels of heavy oil. The Vice Minister of Energy, Pedro Gamio, told Agencia Andina the oil is located in block 39, under exploration by Spain’s Repsol YPF, and block 67, under exploration concession to [...]

Energy Minister to renegotiate part of energy contract with international consortium

Energy Minister Juan Valdivia announced a plan to renegotiate parts of an energy contract that will export natural gas from the Camisea gas fields, located in Peru’s south-east Amazon basin and thought to hold some of the largest undeveloped gas reserves in South America. Valdivia said they will sit down with Peru LNG, the consortium [...]