Petroperu Signs 30-Year Development Contract for Block 206

en.Wedoany.com Reported - On October 29, Perupetro, Peru's national oil contract administration agency, formally signed a 30-year oil and gas development license contract for Block 206 with Colombian Green Energy. The block is located in the Talara area of the Piura Region in northwestern Peru. The new operator must complete the workover and rehabilitation of 81 oil wells, the drilling of 40 development wells, and the drilling of 1 exploration well within the first 10 years of the contract, with these operations included in the mandatory work program.

Block 206 covers an area of 17,177.765 hectares and was formed by merging the former Block II and Block XV. The contracts for the two original blocks expired in 2026 and 2025, respectively, with combined historical average oil production of approximately 300 barrels per day. The new contract covers the rehabilitation of existing wells, the construction of additional development wells, and new exploration operations. Colombian Green Energy will be responsible for the subsequent operation and development of the block.

The signing was authorized by Peruvian Supreme Decree No. 017-2026-EM, issued on September 25. Perupetro had previously conducted contract negotiations with Colombian Green Energy through a direct negotiation procedure, which concluded on December 19, 2025. The contract covers the three districts of El Alto, Lobitos, and Pariñas in Talara Province.

Under the mandatory work program, the new operator will carry out workover and rehabilitation of existing oil wells and expand the scope of oil and gas production operations through additional development wells. The work also includes drilling 1 exploration well to explore new oil and gas resource targets within the block. Perupetro has identified reservoir production performance optimization and enhanced oil and gas recovery as the development objectives of this project.