Peru's National Hydrocarbons Agency Signs 20-Month Technical Evaluation Agreement

en.Wedoany.com Reported - On October 23, Perupetro, Peru's national hydrocarbon resources management agency, announced that it had signed a technical evaluation agreement with a consortium composed of Nikoil Energy's Colombian branch and Maxenergy to conduct a 20-month study of the oil and gas potential of Block XCVI in the Marañón Basin in northeastern Peru. The consortium is responsible for analyzing existing geological data and identifying areas with relatively high oil and gas exploration potential; the evaluation results will serve as the technical basis for subsequent negotiations on exploration and development contracts.

Block XCVI is located in the provinces of Marañón Estuary and Loreto in Peru's Loreto Region. Under the agreement, the consortium will analyze geological, geophysical and geochemical data stored in Perupetro's database during the 20-month performance period. The research work will be conducted entirely through in-house data analysis, with no on-site exploration or drilling operations carried out in the agreement area.

The agreement grants the consortium a conditional preferential option. If the technical evaluation is successful, the consortium may negotiate with Perupetro for oil and gas exploration and production license contracts covering all or part of Block XCVI, and sign the contracts after the relevant conditions are met.