Perupetro postpones licensing round until after Camisea

Aug 17, 1999 02:00 AM

The board of directors of Peru's upstream oil regulator, Perupetro, has indefinitely postponed an exploration and production licenses round until after concessions for natural gas deposit Camisea are resolved, according to a Perupetro source. The sale of bidding rules was scheduled to begin today. Perupetro intended to tender 16 lots, including three onshore areas and 13 offshore areas in the Zocalo continental shelf.
Several firms had approached Perupetro asking for details of the concession process and the official disclosure date of bidding rules, according to earlier reports. Earlier this year, some 250 companies had approached Perupetro during the company's road show in Calgary and Houston, Perupetro president Juan Assereto said at the time.
The tendering of these fields formed part of the government's plan to spike local oil production as, according to Perupetro, no oil reserves have been found in the country for the last 10 years. In July the country's total production reached 3.33 mm barrels.

Source: BNA via Iinoil
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