Press Release
PERUPETRO SIGNED LICENSE CONTRACTS FOR THE EXPLOITATION OF
BLOCKS III AND IV WITH GRAÑA Y MONTERO
PERUPETRO S.A. signed the License Contracts for Hydrocarbons Exploitation in
Blocks III and IV, located in the northwest part of the country, with the company
Graña y Montero Petrolera S.A. (subsidiary of Graña y Montero S.A.A), starting
operations on April 5.
The Executive, through a Supreme Decree published on March 31, authorized
PERUPETRO to sign the mentioned contracts with the new operator.
On December 12, Graña y Montero was awarded both license contracts for blocks
III and IV, assuming the commitment of drilling 560 wells during 10 years,
representing an investment of 630 million dollars.
The aggressive well drilling program offered by Graña y Montero for both blocks
will contribute to the increase of daily production, doubling to production levels,
which in the last years reached an average of 1,900 barrels per day in block III and
700 barrels per day in block IV.
Both blocks are located in Talara Basin, one of the most prolific in respect to other
oil basins in Peru, having more than 50 oil and gas active fields.
The experience in the last 10 years allows being optimistic in relation to the
possibilities of increasing oil production of both blocks with the subsequent
increase of revenues for the State.
Lima, April 06, 2015
PERUPETRO S.A.