Peru's international bid round offers offshore blocks

July 10, 2013

Peru launches offshore round

Peru’s international bid round will offer offshore blocks Z-56 and Z-57 (Cuenca Salaverry-Trujillo); Z-53, Z-54, and Z-55 (Lima-Pisco Basins); and Z-58, Z-59, and Z-60 (Cuenca Mollendo). The blocks are within seven miles of the coast. Petroperú SA has the right to participate (up to 25% stake) in each concession after a discovery, though it will not participate in the exploration phase. Petroperú plans to award concession contracts on October 17.

The government estimates that the round could reap US$450 million, with companies investing a minimum of $50 million. Petroperú said that 20 companies from the US, Canada, France, and Russia expressed interest in the basins.

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