CAPITAL: Lima
MONETARY UNIT: New Sol
REFINING CAPACITY: 182,250 b/cd
PRODUCTION: 110,000 b/d
OIL RESERVES: 773.4 million bbl
GAS RESERVES: 6,982 bcf
Shell and Mobil in late 1998 reported what might have been Peru`s first major hydrocarbons discovery since the Camisea gas-condensate fields in the 1980s. The Pagoreni find is near Camisea, development of which the partners had stepped away from just a few months earlier.
Pagoreni-1 is on 7,900 sq km Block 75, which adjoins the Camisea fields on Blocks 88A and 88B in the Ucayali basin. Shell bottomed the directional well at 3,400 m measured depth in what it described as a complex geological formation and was starting tests to determine gas productivity and gas liquids content.
The Block 75 contract was separate from Shell-Mobil`s former partnership in the Camisea fields project, from which they withdrew in July after completing a 26 month appraisal stage and failing to reach agreement with the government on the development project.
Perupetro estimated Camisea`s reserves at 9.9 tcf of gas and 620 million bbl of condensate. Peru formed a commission to organize and promote Camisea development. A Maple Gas Corp. group started production from Aguaytia field in the Ucayali basin in mid-1998. Gas from Aguaytia field is burned to generate electricity, moved by power line 250 miles to near Lima. Maple recovers Aguaytia condensate and NGL and also operates Maquia and Agua Caliente oil fields.
The North Peruvian pipeline, with 200,000 b/d of capacity, pumped an average 80,000 b/d from Occidental and Pluspetrol`s northern jungle oil fields.
