The PetroVietnam Exploration and Production Corporation (PVEP) began producing oil commercially from Block 67 off the coast of Peru on April 1, according to the Vietnam National Oil and Gas Group (PVN).
Block 67 is PVN’s second project in Peru , after Block 39 nearby, and the first overseas property of PVEP.
Earlier, PVEP negotiated with Perenco, an oil exploration and production group, to buy 52.6 percent of Perenco Peru Limited’s shares. The holding permits PVEP to earn 50 percent of profits from Block 67.
Initial oil output from Block 67 is 6,000 barrels a day, which will be shipped to a station 600km away to sell.
At an April 1 ceremony in Peru ’s capital Lima , PVN General Director Do Van Hau said the commercial exploitation of oil from Block 67 is a landmark in the group’s exploration in such key areas as Russia , Southeast Asia, Northern Africa, the Middle East and Latin America .
Luis Ortigas Cuneo, chairman of Peru’s national oil and gas group PeruPetro, said this is the first time in 40 years a foreign joint venture has exploited oil fields in Peru despite the geographical and geological difficulties.-VNA
Block 67 is PVN’s second project in Peru , after Block 39 nearby, and the first overseas property of PVEP.
Earlier, PVEP negotiated with Perenco, an oil exploration and production group, to buy 52.6 percent of Perenco Peru Limited’s shares. The holding permits PVEP to earn 50 percent of profits from Block 67.
Initial oil output from Block 67 is 6,000 barrels a day, which will be shipped to a station 600km away to sell.
At an April 1 ceremony in Peru ’s capital Lima , PVN General Director Do Van Hau said the commercial exploitation of oil from Block 67 is a landmark in the group’s exploration in such key areas as Russia , Southeast Asia, Northern Africa, the Middle East and Latin America .
Luis Ortigas Cuneo, chairman of Peru’s national oil and gas group PeruPetro, said this is the first time in 40 years a foreign joint venture has exploited oil fields in Peru despite the geographical and geological difficulties.-VNA
