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PetroVietnam subsidiary wins bid to explore oil in Peru
The Peru state-run PeruPetro firm has recently announced that the PetroVietnam Exploration and Production Corporation (PVEP), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam) has won a bid to explore oil at Lot 162 in Peru.
This is the result of the recent bidding held recently by PeruPetro, including 22 lots of different basins in Peru. As many as 58 enterprises registered to join the bidding, and 44 of them meet the requirements to participate in.
Lot 162 has a total area of 4,700 square kilometres, within the Ucayali sediment basin onshore in eastern Peru.
According to Nguyen Quoc Thap, PVEP general director, the winning to explore oil at Lot 162 in Peru is within the company's strategy to increase oil exploration and production in key regions in the world, including Latin America. PVEP is making active preparations so as to implement exploratory activities right after the contract has been signed.
This has been the second contract signed by PVEP in Peru. Earlier, the company won a contract to explore oil at Lot Z47 in Trujillo basin offshore in the west of Peru.
PVEP is currently holding 100% stake in both contracts.
ND
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