Chevron, Anadarko, and funding fund Westlawn have formalized a brand new partnership to advance hydrocarbon exploration offshore Peru, marking a big step in revitalizing the nation’s upstream sector.
The three firms signed amended license agreements with Perupetro for Blocks Z-61, Z-62, and Z-63 within the Trujillo basin, an offshore space protecting 6,018 km² some 50 nautical miles off the coasts of Lambayeque and La Libertad. Anadarko will stay operator with a 35% stake, whereas Chevron and Westlawn take 35% and 30% respectively.
The consortium not too long ago accomplished Peru’s largest-ever 3D marine seismic survey, performed between Could and July 2024. Outcomes are anticipated in early 2026, at which level the companions will resolve whether or not to proceed with exploratory drilling. Success might unlock manufacturing potential of 100,000–150,000 bpd, backed by greater than $1 billion in funding.
Perupetro mentioned the settlement demonstrates rising worldwide confidence in Peru’s hydrocarbon potential and strengthens nationwide vitality safety. President Dina Boluarte and Power Minister Jorge Montero attended the signing ceremony, underscoring the mission’s political significance.
Peru’s offshore Trujillo basin is taken into account one among Latin America’s most underexplored frontier areas. If industrial discoveries are made, the basin might assist scale back the nation’s reliance on imports whereas attracting additional overseas funding from international oil majors.
