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Inpex gets 25% of the shares in the Peruvian oil exploration block
Japanese oil explorer Inpex Corp. said Friday it has completed all necessary procedures to get a 25 percent stake in a northern Peruvian oil exploration block, in the company’s first project to scour the Latin American nation for oil
Inpex North Peru Ltd., a wholly owned Inpex unit, bought the stake in
Block 117 from Petrobras Energia Peru S.A., an arm of Peru’s national
oil company? Petrobras, and secured regulatory approval from the
Peruvian government, it said.
The block appears to be a promising area, because several large oil
reserves that are estimated to have hundreds of millions of barrels of
oil have been discovered in its vicinity, it said.
The remaining 75 percent interest is shared by Petrobras Energia Peru and Ecopetrol, a Colombian national oil company, it added.
Source: ANDINA
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