Cepsa Boosts Peru Presence With Pan Andean Deal

Spanish energy group Cepsa has struck a deal with Ireland's Pan Andean Resources to buy controlling stakes in two exploration blocks in Peru. The companies will form a joint venture (JV) to develop blocks 114 and 131 in the Ucayali Basin of the Amazon jungle. The two blocks are situated north-east of Lima, near to existing producing fields, which include Maquia, Aguas Calientes and Aguaytía, and north of the giant Camisea field.

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