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Perenco strengthens the development of Block 67    

Perenco Peru has taken an important step towards the strengthening of the Block 67 development by signing a memorandum of understanding with Petroperu, the Peruvian oil company, through which it will transport the production from the block by the existing Norperuano pipeline.

The agreement aims to find all possible synergies between both companies to achieve a reasonable, creative, economical and safe development for future activities, reflected in a positive partnership for both parties: Petroperu providing a transportation service using its pipeline, and Perenco providing fluvial transportation services to Petroperu's refinery in Iquitos, using new barges specially built to the highest international standards.

In a first phase, from July 2013 to 2017, 7000 barrels per day will be transported. Then, from 2017, the pipeline will transport up to 60 thousand barrels per day, which will run directly to the Andoas Station of the Norperuano's North Branch through a 207 kilometer pipeline from Block 67.

Mr. Humberto Sanchez Campodónico, Chairman of Petroperu's Board of Directors, said that this agreement would greatly increase the value of the Norperuano Pipeline, which was built in the 70's with more capacity than needed in anticipation of the future development of oil exploitation. He pointed out that the pipeline will become a great asset to enable synergies between the companies operating in the area.

The General Manager of Perenco, Mr. Benoit de la Fouchardiere, said that a project of this magnitude requires agreements with all stakeholders in the forest, and that the company is very pleased to add Petroperu to its list of strategic partners which already includes IIAP, the Peruvian Navy, the DIRESA, the GOREL, among others.

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