U.S. oil company Anadarko Petroleum has signed three oil exploration contracts with Peru’s energy regulator, Perupetro, in what Peru President Pedro Pablo Kuczynski called an “important sign of confidence.”
The U.S. independent producer has committed to investing $200 million in Peru, Kallanish Energy learns.
In a signing ceremony earlier this week, Kuczynski said the South American country has been slow regarding its oil policy in the past 30 to 40 years, with contracts that are hard to fulfill.
“At present, we are making efforts to improve,” he added.
Anadarko will explore the offshore fields in blocks Z-61, Z-62 and Z-63 – the first time the country will host deepwater exploration off the country's western coast along the Pacific Ocean.
"It is important that Anadarko has chosen Peru, to explore in a thriving area as northern Peru,” said Kuczynski, noting the investment will contribute significantly to the economy, create employment and improve the citizens’ quality of life.