Four oil firms eye blocks near Camisea gas fields in Peru

Peru's state oil firm Perupetro said four oil companies are considering leases of blocks 56, 57, and 58 near the Camisea gas fields.

Nov. 9, 2001

By an OGJ Online Correspondent

LIMA, Nov. 9 -- Peru's state oil firm Perupetro said four oil companies are considering leases of blocks 56, 57, and 58 near the Camisea gas fields.

Perupetro has opened a data room and expects to receive contract proposals by yearend. It was meeting with the companies to assess whether to offer the blocks together or individually.

The firms are TotalFinaElf SA, Repsol-YPF SA, Occidental Petroleum Corp., and Hunt Oil Co. The latter represents the Camisea consortium, which the Argentine firm Pluspetrol operates.

Block 56 holds the Pagoreni gas structure that a Royal Dutch/Shell Group subsidiary discovered 3 years ago. It, and the small Mipaya structure Shell opened earlier, have estimated resources of 4 tcf. The other two blocks have no discoveries but are considered promising.

Meanwhile, Hunt is developing a feasibility study for the Camisea partners on methods to export liquefied natural gas or gas liquids. Camisea is expected on stream in the first quarter of 2004, although the project deadline is August 2004.