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In one of Peru’s most gas-prone areas
Repsol starts gas production at the Kinteroni field in Peru
Press Release
31/03/2014 00:00
- Kinteroni will initially produce around 20,000 barrels of oil equivalent a day, which is expected to double in 2016. Repsol is the operator of the block, which it shares with Petrobras.
- The Kinteroni field was discovered in 2008, when it was one of the five biggest discoveries made worldwide. It is located in block 57, where Repsol made another large find, Sagari. Preliminary estimates indicate the field may hold between 2 and 3 TCF (trillion cubic feet) of gas.
- Block 57, located east of Peru’s Andes mountain chain, is one of the most promising gas-prone exploratory plays in Peru.
- With the start-up of Kinteroni, Repsol fulfils another of its strategic projects. The company has begun production in seven of its ten key growth projects included in 2012-2016 Strategic Plan.
- These projects have allowed the company to increase its production since 2011 at an annual average of 7% to reach 346,000 barrels per day in 2013. At the same time, the company increased its reserve replacement ratio to a record 275%.