Peru offering technical evaluation pacts

Perupetro SA, Peru's petroleum regulatory agency, is inviting major and independent oil companies to sign 2-year technical evaluation agreements (TEAs) for six areas: on the coast, in the jungle, and in the southern Andes.The TEAs give companies up to 2 years to make oil field studies of areas as large as 1.5 million hectares without putting up guarantees, after negotiating a work program with Perupetro. They can subsequently select a block of 1 million hectares within the area explored for a standard Peru oil and gas exploration and development contract.The TEA areas include: Blocks A and B, which are among the areas Perupetro included in its recently postponed 16-block license round...

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