PetroTech Peruana to explore new block off Peru

Sept. 27, 2004

PetroTech Peruana SA recently closed a third offshore exploration and exploitation contract with Perupetro, the state oil agency, for B lock Z-33, in Peru's territorial waters off the Lima and Cañete provinces at depths of 400-1,200 ft.

By OGJ editors

HOUSTON, Sept. 27 -- PetroTech Peruana SA recently closed a third offshore exploration and exploitation contract with Perupetro, the state oil agency, for B lock Z-33, in Peru's territorial waters off the Lima and Cañete provinces at depths of 400-1,200 ft.

The company is committed to process and interpret 1,500 km of conventional seismic data, shoot 150 sq km of 3D seismic, and drill three exploratory wells. Perupetro estimates the company will invest $22 million in the new block.

PetroTech has been producing oil and gas in Block Z-2B for 11 years and has been exploring Block Z-6 in the same area since March 2002.