Friday, November 06, 2009

Peru: Amazon gas field large enough to meet Peru' s needs until 2050

FOCUS Information Agency - President Alan Garcia Thursday announced the discovery of a new natural gas field in the Amazon basin that would boost existing reserves and meet Peru's gas supply needs until 2050, AFP reported.

He said state-owned PetroPeru petroleum company located the field in the Urubamba area of southeastern Cusco region and contained at least 28 billion cubic meters (310 billion cubic feet) of natural gas.

Garcia said that, together with three existing natural gas fields in the Amazon basin, the new find greatly increased Peru's energy supply. "We can say we've made a leap in energy security and production to beyond 2050."

Peru's largest natural gas field, also in the Cusco region, holds a potential 365 billion cubic meters (3.9 trillion cubic feet) of natural gas and 600 million barrels of liquid gas.

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