Project Profile
Value: US1.19
Location: Loreto and Maynas provinces, Loreto region
Recoverable Reserves: 87Mb
Onshore Block 39 in Peru is estimated to hold 87 million barrels of recoverable reserves. It is technically challenging owing to the heavy nature of the crude and its distance from major cities. Studies show the best strategy involves diluting the heavy oil with naphtha.
In April 2011, Repsol (which had a 55% interest in the block until August 2014) submitted an environmental impact study to the energy and mining ministry, and set a budget of US$1.19bn.
Development has been complicated by the presence of sensitive indigenous tribes in the area.
Operators:
Perenco (55%)
PetroVietnam Exploration & Production (PVEP) (35%)
Reliance Exploration & Production (10%)