Petroperu, Peru’s state run oil company, reported that the exploration conducted by the Peruvian branch of BPZ Energy revealed positive results in well Z-1, located in the Corvina deposit, near the coast of Tumbes.
BPZ, which calculates Z-1’s potential production rate at 37 million cubic feet per day, is continuing tests and analysis in the same lot to verify the volume of oil found in the same deposit. Preliminary results suggest Z-1’s daily oil output levels could be at approximately 3,150 barrels per day.
Meanwhile, Petroperu also reported that Petrotech discovered natural gas reserves
in the East San Pedro 1X well, located in the department of Piura.
Officials stated that San Pedro’s daily production rate could exceed 15 million cubic feet per day.