Chevron to invest in oil and natural gas exploration in Block Z-62
This press release was published in English using an automatic translation system
From Iquitos, the Minister of Energy and Mines, Jorge Montero, stated that, following seismic studies conducted by Anadarko, evidence of a new oil and gas field was found in the continental shelf in Block Z-62, off the coast of the La Libertad and Lambayeque regions.
After participating in the VIII Regional State Council ( CER ), the minister described this discovery as “good news for the Peruvian oil industry that will contribute to reducing the country’s negative trade balance in hydrocarbons.
“Peru consumes 120,000 barrels of diesel per day and produces less than 60,000. A discovery of this nature could truly change the economics of the hydrocarbon business in Peru and give us energy security,” said the head of the Ministry of Energy and Mines (MINEM).
Montero referred to the strategic alliance between Anadarko and Chevron to drill exploratory wells, which indicates the world’s third-largest oil company’s interest in investing in this project, which would strengthen the country’s energy security.
The exploratory project in Block Z-62 involves an estimated investment of US$100 million and has completed deepwater marine seismic studies. Five exploratory wells and ten confirmatory wells are planned for drilling, with the goal of identifying potential natural gas and/or oil reserves.
The Ministry of Energy and Mines (MINEM) has been working on implementing measures to reactivate oil exploration and exploitation, with the goal of establishing an energy system that meets national energy demand reliably, continuously, and efficiently, promoting sustainable development based on planning, research, and technological innovation.