Chevron, Anadarko, and Westlawn have finalized a consortium agreement to advance hydrocarbon exploration off the peru coast. Initial item in the agenda is analyzing results from a 3D marine seismic survey before deciding on drilling plans. The deal involves blocks Z-61, Z-62, and Z-63 in the Peruvian Sea, or Mar de Grau. Perupetro confirmed that modifications to the license agreements were signed with the companies, highlighting the action as a move toward increasing national energy security and the release of possible new reserves.
The signing ceremony was attended by Peru’s President Dina Boluarte, Minister of Energy and Mines Jorge Montero, and Perupetro’s Board Chairman Pedro Chira, alongside representatives of the partner firms. Under the agreement, Anadarko will continue as operator with a 35% share, Chevron takes another 35%, and Westlawn holds the remaining 30%. Perupetro stated: The entry of world-class players into Peru will attract other major competitors in the global energy industry, interested in the hydrocarbon potential of our various oil basins.
“The Trujillo Basin has significant potential to be discovered and, if the exploratory work to be carried out in this basin is favorable, Peru could be facing an important discovery, which would improve our trade balance deficit in hydrocarbons.”
The license areas are currently in the second phase of Hydrocarbon Exploration, requiring the partners to record, reprocess, and interpret seismic data collected between May and July 2024. Covering 6,018 square kilometers, the study is the largest of its kind ever carried out in Peru and along the Pacific coast. Results are expected in the first quarter of 2026, after which the consortium will decide whether to enter a third exploration phase that would include drilling. Perupetro has stressed the significance of drilling to verify the presence of hydrocarbons, noting that a successful outcome could support production of between 100,000 and 150,000 barrels of oil per day in an optimal case, alongside major investment flows.
“Perupetro will continue to promote the arrival of new investments as part of its promotional role, in order to promote the exploration and exploitation of oil and gas resources that lie in the country’s 18 sedimentary basins,” the state company added. The Trujillo Basin blocks are located around 50 nautical miles offshore from the Lambayeque and La Libertad regions, with seabed depths ranging from 100 to 2,400 meters. In addition to oil and gas prospects, Peru is pursuing growth in liquefied natural gas.