Houston independent to develop gas finds off Peru

By OGJ editors

HOUSTON, Jan. 5 -- A newly public Houston independent plans to develop gas discoveries on the Pacific shelf just off northwesternmost Peru for power generation onshore.

BPZ Energy Inc., Houston, acquired full interest in Block Z-1 near the marine boundary with Ecuador and plans to develop nearly 1 tcf of proved and probable reserves in the Corvina and Piedra Redonda gas and condensate discoveries.

Gas from the existing Corvina platform, to be refurbished, would flow through a 10-mile pipeline to supply a 140-Mw power plant to be built at Caleta La Cruz, Peru. Eventually, BPZ hopes to ship gas to Guayaquil, Ecuador, 90 miles north.