Mobil evaluates next step in Madre de Dios basin

04/24/2000
Mobil Exploration & Producing Peru, the operator of Block 78 in Peru's Madre de Dios basin, will undertake a series of studies in the northwestern portion of the block and evaluate drill cuttings from the Karene 3X well, drilled by Cities Service Co. (later acquired by Occidental Petroleum Corp.) in 1976. On completing the 6-month study, Mobil will either move into the third exploration stage of its program or pull out of the area.The third stage requires Mobil to drill a second exploration well or acquire 300 km of 2D seismic in the block's western sector.Mobil estimates it has spent close to $85 million in the second stage of the block's exploration program, which ended Mar....
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