Block 67 covers 101,931ha in the Marañon basin, Loreto region, and boasts reserves of more than 300Mb. Peru's state oil company Petroperú approved the signing of an MOU with Perenco to identify, evaluate and reach agreements to optimize logistical operations of early production from block 67, as part of Perenco's US$1.59bn block 67 development program. Petroperú pledged to transport crude from the block, which will boast production of 76,000b/d with the goal of reaching 30,000b/d in 2017 and peak production of 60,000b/d in 2019. The block's proved reserves total around 100Mb.