Repsol, Petrobras find gas in Peru's Subandean Block 57

9/7/2012

Repsol, Petrobras find gas in Peru's Subandean Block 57

BY SANTIAGO PEREZ

MADRID -- Repsol said it has made a new natural gas discovery in Peru's Subandean Block 57, with preliminary estimations indicating the field may hold between 1 Tcf and 2 Tcf of natural gas resources.

Repsol said, in a filing with Spain's stock market regulator, that it plans to carry out further exploration to evaluate the additional potential of the block once the production tests are complete.

Repsol is the operator of the block with a 53.84% stake. Petrobras holds the remaining 46.16%. Repsol said it has made more than 30 oil and gas discoveries in the region over the last five years.

Dow Jones Newswires

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