Perupetro to hold onto Block 56 near Camisea gas field

Perupetro has decided to keep Block 56, adjacent to the Camisea natural gas fields, until the proposed Camisea LNG or gas-to-liquids export project materializes.

Oct 24th, 2002

By an OGJ correspondent

LIMA, Oct. 24 -- Peru's state oil agency Perupetro SA has decided to keep Block 56, adjacent to the Camisea natural gas fields, until the proposed Camisea LNG or gas-to-liquids export project materializes.

Block 56 has estimated reserves of 3 tcf of gas in Pagoreni and Mipaya fields. Meanwhile, Block 88 production is expected to be on stream by August 2004 with more than enough gas for the local market.

A feasibility study on the LNG project, led by Hunt Oil Co., Dallas, a partner in the Camisea natural gas project, is slated for completion by yearend (OGJ Online, Oct. 22, 2002).

Last year, Perupetro had said it would auction concessions for Blocks 56, 57, and 58, all adjacent to the Camisea fields. But companies that had shown earlier interest have since backed out, and Perupetro decided that the Camisea fields, with an estimated 9 tcf of gas reserves, would be sufficient to fulfill immediate gas demands.

Companies that previously indicated an interest in Block 56 included TotalFinaElf SA, Repsol-YPF SA, Occidental Petroleum Corp., and Hunt (OGJ Online, July 16, 2002).

More in Companies