Anadarko Petroleum has signed an exploration agreement with the government of Peru to explore 4.7 million acres across three deepwater blocks in the Trujillo Basin offshore Peru.
The exploration phase of the agreement is a typical multi-year, multi-phase agreement for seven years with attractive fiscal terms.
During the first two-year phase, Anadarko expects to invest approximately US$5 million to conduct evaluation activities primarily consisting of reprocessing existing seismic data and collecting piston cores from the sea floor to evaluate the potential.
The terms include multiple decision points to continue into additional exploration phases, Anadarko said.
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