Block 56 license contract award moves Peru LNG project forward

Sept. 8, 2004

Peru Tuesday awarded a license contract for exploration on Block 56 in Peru's Amazon rainforest to Peru LNG consortium partners led by Hunt Oil Co. Gas from the block would be exported as LNG from a proposed $2.25 billion liquefaction plant south of Lima that the group is planning.

By OGJ editors

HOUSTON, Sept. 8 -- Peru Tuesday awarded a license contract for exploration on Block 56 in Peru's Amazon rainforest to Peru LNG consortium partners led by Hunt Oil Co. and including Pluspetrol Peru Corp. SA, SK Corp., Sonatrach, and Tecpetrol del Peru SAC.

Block 56, adjacent the Camisea natural gas megacomplex, holds reserves estimated at 3 tcf of natural gas from Pagoreni and Mipaya fields (OGJ Online, June 16, 2004). Gas from the fields would be converted to LNG at a proposed $2.25 billion liquefaction plant the group would build south of Lima to export to Mexico and US by 2008.

The formal launch of the Peru LNG project is planned for July 1, 2005, said Hunt.