Peru To Auction Oil Exploration Rights On 25 Areas In Oct
June 24 2010 - 9:04PM
Dow Jones News
Peru will auction the rights to seek oil and gas in 25 areas in
October, Daniel Saba, the head of Peruvian oil licensing agency
Perupetro, said Thursday.
Saba said the Canadian firm Talisman Energy (TLM), as well as
Argentina's Pluspetrol, sent letters requesting access to the
information on the areas.
Additionally, he said state-controlled Colombian company
Ecopetrol SA (ECOPETROL.BO), as well as French Total SA (TOT) and
Exxon Mobil (XOM) have approached him.
The Chief Executive of Toronto-listed Pacific Rubiales Energy
(PRE.T) Ronald Pantin also said his company was interested in the
auction process.
Saba expects all 25 areas may be taken during the auction.
He expects Peru's hydrocarbon production to almost triple, to
500,000 barrels a day by 2015 from current levels of about 160,000
barrels a day. Investments from companies currently working in Peru
would reach $9 billion over the same period.
-By Inti Landauro, Dow Jones Newswires; 57-310-867 65 42;
colombia@dowjones.com
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