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Peru gives Canadian firm two-year contract for biggest oil block

Published 2015-08-21, 10:40 a/m
© Reuters. Peru gives Canadian firm two-year contract for biggest oil block
FEC
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LIMA, Aug 21 (Reuters) - Peru will give Pacific Exploration
and Production Corporation PRE.TO a two-year service contract
for developing the country's biggest oil block, state regulator
Perupetro said Friday.
The Canadian company, which changed its name from Pacific
Rubiales Energy Corp last week ID:nL3N10P3TD , will take over
oil block 192 after current operator Pluspetrol's contract
expires in eight days.
A deal was reached through private talks after a 30-year
contract for the concession failed to draw any bids in an
auction last month. ID:nL1N10F3JX
State-owned energy company Petroperu will not take a
minority stake in the oil block as permitted by law, Perupetro
president Rafael Zoeger said at a press conference.

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