By an OGJ correspondent
LIMA, Nov. 3 -- Peruvian President Alejandro Toledo approved the transfer by Lima-based Pluspetrol Peru Corp. SA of 10% interest in the consortium for upstream development of the Camisea natural gas fields to Algerian firm Sonatrach Peru Corp. SA.
Government approval came Oct. 25 following the June 25 agreement between Pluspetrol and Sonatrach. The deal was approved by Peru's state oil company Perupetro on Sept. 24.
Pluspetrol, which previously held 36% of the consortium, now holds 26%. Other partners include Dallas-based Hunt Oil Co. of Peru 36%, South Korea's SK Corp. 18%, and Argentine company Tecpetrol SA 10%.
Sonatrach already holds 10% of the downstream contract. The consortium developing the Camisea transmission pipeline project, Transporte de Gas del Peru, is headed by Argentina's Tecgas, a unit of Buenos Aires-based steel pipeline and construction firm Techint SA.
