PERU'S PRODUCTION, EXPLORATION REBOUNDING

Peru's oil production is rebounding as state owned Petroperu continues struggling to meet its financial obligations. Occidental Petroleum Corp. boosted oil production on its northern jungle block to 58,000 b/d late last month after resuming field maintenance amid renewed negotiations with Petroperu. Oxy's jungle production had fallen sharply twice in second half 1989 after it halted work on the block because of missed contract payments for delivered oil.

Feb 19th, 1990
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