Peru offshore licensing round offers Pacific frontier
Perupetro has officially launched its 2013 offshore licensing round, making available nine blocks that lie along the country's Pacific coastline. This will be the first licensing round since 2010 and offers companies the chance to acquire substantial exploration acreage in a frontier area. However, the acreage is spread over three geologically complex fore arc basins that we consider to be high-risk exploration. There has been little interest in these basins historically, and drilling to...