Cheiron Holdings Egypt Ltd. subsidiary PETROLORETO SAC has entered the Block 192 license in the Loreto region of Peru.

Block 192 is Peru’s largest oil concession by reserves. Located between the province of Datem del Marañón and Loreto, the block contains estimated reserves of 127 MMbbl oil and expected production of 12,000 b/d.

Production from the block will go to Petróleos del Perú—Petroperú SA's 95,000-b/d New Talara refinery in Pariñas, Talara, Piura, Peru.

Peru is Cheiron’s fourth market in its global portfolio in addition to Egypt, Mexico, and Romania.

Petroloreto will be operator of the block (75%) with Petroperú holding the remaining 25%.