Block 192: Petroperu private partner incorporation begins

The incorporation of the private partner of Petroperú to operate Block 192 in Loreto is advancing according to a recent announcement by the state oil company.

The company that will join the operation of said block will be Altamesa Energy Canada, whose qualification will be requested by the state oil company from Perupetro.

Altamesa Energy was selected as part of a proposal evaluation process carried out by Petroperú in 2021, as was reported at the time.

“Petroperú authorized the execution of the Terms and Conditions Agreement for the Joint Investment in Block 192 and Perupetro will be requested to initiate the qualification of Altamesa Energy Canada SAC, with the purpose of achieving its incorporation as a strategic partner of the aforementioned block.”

Petroperú and Perupetro signed the License Agreement for the Exploitation of Hydrocarbons -for a period of 30 years- for Block 192, considered the largest oil field in the country, with a total recoverable technical reserves of 127 million barrels (MMBO), as proven reserves of medium, light and heavy crude oil.

Block 192 was granted to Petroperú by means of Law No. 30357, a rule that incorporated a Fourth Transitory Provision to Law No. 30130. In the aforementioned rule, Perupetro is authorized to sign the block, after prior evaluation and through direct negotiation. hydrocarbon exploitation contract for Block 192 with Petroperú. Likewise, it authorizes Petroperú to convene, in accordance with the law, strategic partners and to carry out the necessary steps.

In this sense, after having passed legal and regulatory evaluations, the Terms and Conditions Contract for the Joint Investment in Block 192 signed in August 2021, may continue its execution in order to reactivate oil activity in the Peruvian Amazon.