By an OGJ correspondent
LIMA, Mar. 5 -- Occidental Exploradora del Peru Ltda., a unit of Occidental Petroleum Corp., is preparing to begin exploration work on Block 64 in the Marañon basin after reaching an agreement with a sector of Ashuar Osham communities in the area.
Occidental is the operator with a 50% interest in Block 64; the remaining interest is jointly held by partners Burlington Resources Inc. and Spain's Repsol-YPF SA.
The Block 64 project includes drilling an exploration well, a confirmatory well, and completing a seismic study on the area bordering Ecuador. Work is limited to the northwest corner of the block, Oxy said.
Work on Block 64 has been on hold for the past 6 years until a sector of Ashuar Osham communities agreed Oxy could begin exploring there. The company will hold a public hearing Apr. 14 for modifications in the environmental and social impact study covering the northwest portion of Block 64.
The agreement followed the Feb. 26 signing by Oxy with the Ashuar Osham Federation, presided over by Peas Kaisar and Loreto's regional President Robinson Rivadeneyra, after longstanding negotiations.
The cost of the Block 64 project is expected to reach $15-20 million/well. Perupetro's president said he would lift force majeure on the block when Oxy's equipment arrives at the site.
Meanwhile, state oil concern Perupetro is awaiting final approval for Oxy to acquire an exploration and development license on Block 101, expected to be ready next month. The latter block lies next to Block 64.