Introduction
Peru’s state-owned oil company, Perupetro, is set to revise contracts for three offshore exploration lots (Z-61, Z-62, and Z-63) in the Lambayeque and La Libertad coastal regions. This move aims to attract major players like Chevron and TotalEnergies, revitalizing Peru’s hydrocarbon exploration efforts.
Background on Peru’s Hydrocarbon Sector
Peru has historically relied on imports for crude oil and derivatives due to limited exploration activities. In 2009, the country saw a peak of 68 exploration contracts; however, by 2025, only five active exploration contracts remain, with three being offshore.
Perupetro’s Role
Pedro Chira, President of Perupetro, disclosed that Chevron is not only partnering with Anadarko for lots Z-61, Z-62, and Z-63 but also evaluating other opportunities in Ancash’s southern areas for pre-exploration activities.
Interest from Other Companies
TotalEnergies, a top-ten global oil company, is reportedly assessing hydrocarbon exploration potential along Peru’s northern and southern coasts in medium-depth and deepwater areas. Perupetro has signed a technical evaluation agreement (TEA) with TotalEnergies to reassess data in the Talara and Tumbes basins.
Current Status and Future Prospects
Perupetro’s Chira anticipates announcing significant hydrocarbon company participation in both offshore lots and the Peruvian Amazon in the coming months. Meanwhile, China National Petroleum Corporation plans to start natural gas production in Peru by November 2024, investing $500 million.
Key Questions and Answers
- Who is Perupetro? Perupetro is the state-owned oil company responsible for managing Peru’s hydrocarbon resources and promoting investment in the sector.
- Which companies are showing interest in Peru’s offshore exploration? Major oil companies like Chevron and TotalEnergies are evaluating opportunities in Peru’s offshore areas.
- What is the current state of Peru’s hydrocarbon exploration? Historically, Peru has relied on imports for crude oil and derivatives. Recently, only five active exploration contracts remain, with three being offshore.
- What is the role of Perupetro in attracting investment? Perupetro is revising contracts for offshore lots to attract major oil companies and revitalize exploration efforts.
- What is China National Petroleum Corporation’s involvement in Peru’s hydrocarbon sector? China National Petroleum Corporation plans to start natural gas production in Peru by November 2024, investing $500 million.
