Gas and condensate discovered in Peru

abarrelfullabarrelfull wrote on 23 Jul 2012 12:50

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January 14, 2008

PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that the consortium formed by Petrobras (35.15%), Repsol (41% - Operator) and Burlington Resources (23.85%) has discovered gas in Peru, in exploratory well Kinteroni X1, in Block 57, in the Cuzco province.

The Kinteroni discovery structure is more than 22 kilometers long and has some 115 meters of liquid gas and condensate reservoirs. Although the available data do not allow the precise definition of the discovery’s resources, the structure’s dimensions allow volumes of some 2 TCF (56 billion cubic meters) to be expected.

Repsol and Petrobras are currently in the process of acquiring Burlington’s participation, which is pending formal approval by the Peruvian authorities.

The new field that was discovered is near blocks 58 and 110, where Petrobras has exploratory activities in which it has 100% shares.

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