Olympic Perú Plans to Expand Oil and Gas Exploration Investment in Piura, Peru

en.Wedoany.com Reported - On September 25, Peru's Minister of Energy and Mines Guillermo Shinno held talks with a delegation from Olympic Perú Inc. The two sides discussed the company's oil and gas operations in northern Peru and its follow-up investment plans. Olympic Perú currently operates three oil and gas blocks in the Piura region: XIII-A, XIII-B, and VII. Company General Manager Reynaldo Llosa Martinto said the company plans to further expand investment in oil and gas exploration.

Olympic Perú will advance new exploration in conjunction with the development of Piura's natural gas resources. The company believes that local oil and gas resources can further support natural gas supply and power generation operations. Olympic previously disclosed that Piura's current natural gas production is approximately 80 million cubic feet per day, and with expanded exploration, future production has the potential to increase to 180–200 million cubic feet per day.

In terms of specific blocks, Block VII entered operation in 2023. The company previously planned to drill 5 exploration wells in the near term to increase oil and gas reserves, while raising the number of development wells to 124, of which 27 are scheduled to come into operation in 2026. In May 2026, Peru's National Service for Environmental Certification of Sustainable Investments (Senace) also approved the technical support report for the Block VII manifold and flowline relocation project, securing environmental feasibility for adjustments to existing production facilities.

Block XIII is an important asset in Olympic's natural gas business in Piura. The company has also been advancing the construction of regional natural gas pipelines and liquefied natural gas facilities in the area, linking oil and gas resource development with natural gas supply and power generation demand in the north.