Argentina's Pluspetrol increases its quota in the Peruvian site of Camisea

The Argentine company Pluspetrol announced on Friday an agreement to increase its participation in the consortium that operates the Camisea gas field in Peru, considered the largest of its kind in Latin America.

The company agreed to the acquisition of 17.6% of the participation that the SK Innovation company had until now in blocks 56 and 88, which the Argentine company operates in the Amazonian district of Megantoni, belonging to the region of Cusco, in the south from Peru.

With this operation Pluspetrol will increase its participation in the consortium to 45.2%, where Spain's Repsol (10%), Argentina's Tecpetrol (10%), US Hunt Oil (25.1%) and Algerian Sonatrach are also (10%)

The transaction, whose figure has not been specified in the company's statement, is subject to the approval of the corresponding Peruvian authorities.

Pluspetrol has been in charge of carrying out the exploration and exploitation activities of natural gas reserves in Blocks 56 and 88 of Camisea since 2004 and their subsequent processing at the Malvinas fractionation plant, located on the banks of the Urubamba River, where the Liquids and dry gas.

From that plant, the gas is transported by a pipeline of more than 500 kilometers to the port of Pisco, in the Pacific Ocean, where there is a fractionation plant for export and for internal consumption in homes in Lima.

Under normal conditions Camisea produces between 1,500 and 1,700 million cubic feet per day, from blocks 56 and 88 by Pluspetrol and 57 by Repsol, according to the most recent data offered by the Supervisory Agency for Energy Investment and Mining (Osinergmin).

In the 15 years of operations, Camisea has invoiced 30,000 million dollars after an investment of 5,000 million dollars and generated royalties worth 8,000 million dollars.

. (tagsToTranslate) Argentina (t) Pluspetrol (t) increases (t) deposit (t) Camisea

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