Perenco to develop Peru heavy oil fields

Perenco, Paris, completed the acquisition of Barrett Resources (Peru) LLC, which owns three heavy oil fields set for development in the Maranon basin at a cost of $1.5 billion.

By OGJ editors
HOUSTON, Jan. 15 -- Perenco, Paris, completed the acquisition of Barrett Resources (Peru) LLC, which owns three heavy oil fields set for development in the Maranon basin at a cost of $1.5 billion.

A development plan approved in July 2007 calls for oil production to start in January 2011 (OGJ, Aug. 20, 2007, Newsletter).

When developed, Paiche, Dorado, and Pirana fields on Block 67 have the capacity to produce as much as 100,000 b/d from more than 300 million bbl of proved and probable reserves, Perenco said.

The development plan calls for drilling, construction of surface processing and handling facilities, and pipelines to transport the oil to an existing pipeline that would itself require upgrading in a separate project.

Perenco Peru Ltd., which operates a similar project in Ecuador's Oriente, will participate in a continuing exploration program in the Peruvian region including the imminent start of a seismic survey on Block 121.

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