Peru hydrocarbons watch: Acreage call, new gas contributor, US$1bn pipeline

Peru's national oil company Petroperú will launch a new process to find a strategic partner to operate block 192 in the northern Amazon region of Loreto.

"This decision comes after [hydrocarbons licensing authority] Perupetro admitted Petroperú as corporate guarantor of Altamesa, a Canadian company that was part of the operating consortium," the NOC said in a statement.

Petroperú said that in the coming days, Perupetro will modify the exploration and production contract, formalizing the withdrawal of Altamesa as the partner for the acreage.

Read Peru's block 192 facing 'economic solvency' issues

New crude contributor

China National Petroleum (CNPC) will begin natural gas production at block 58 in Cusco region in the first quarter of 2026.

Energy and mines minister Jorge Montero Cornejo made the announcement during a "Gas for Cusco" technical work meeting which included the participation of Cusco's regional governor and other authorities.

"This means we will increase the region's available natural gas reserves by 30%, going from 10 trillion cubic feet to 13TCF," Montero said in a statement.

US$1bn pipeline

At the Cusco meeting, Luis Del Carpio, head of investment promotion agency ProInversión, said that together with the energy and mines ministry a conceptual technical study is being evaluated for a US$1bn, 314km gas pipeline for the region.

The duct would connect the existing Camisea-Pisco gas transport system with the cities of Quillabamba, Anta and Cusco. A second phase would extend it to Apurímac and Puno.

Results are expected in six months and following a public tender, awarding would take place in 2026, according to Del Carpio.

The ProInversión official also highlighted plans to build an LPG fractionation plant in Kepashiato, La Convención, through the government's "works for taxes" model.

"We are going to receive a private initiative whose pre-investment study will be carried out in about four months, and the bidding process will immediately begin to award it this year," Del Carpio added.