Petrobras Makes Gas Discovery In Peru

Published: 06-Nov-2009

Peru's President, Alan Garcia said that Petroleo Brasileiro S.A. (Petrobras) has discovered around one trillion cubic feet of natural gas in the Amazon jungle, Bloomberg reported. Peru's state oil officials estimate there are up to five trillion cubic feet of gas in Petrobras' Lot 58 in central Cuzco province.

"We can confirm in lot 58, it (Petrobras) has found a large quantity of natural gas ... It appears in the first well, there is a lot more than 1 trillion cubic feet," Garcia told reporters.

He said a final confirmation on the find is expected later this week and that it could be higher as the gas was in one of five wells in the area.

The block is next to the Camisea play, operated by an international consortium headed by Pluspetrol S.A and Hunt Oil Company.