facebook
twitter
rss
account
search
search
 

Repsol starts gas production from Peru

Repsol starts operations at Kinteroni gas field in Peru.
By Daniel J. Graeber   |   April 1, 2014 at 8:32 AM   |   Comments

| License Photo
April 1 (UPI) -- Spanish energy company Repsol announced the start of production from Kinteroni gas field in Peru, estimated to hold at least 2 trillion cubic feet of reserves.

Kinteroni, discovered in 2008, holds between 2 trillion and 3 trillion cubic feet of natural gas. Repsol said the play would give up reserves at an initial rate of 20,000 barrels of oil equivalent per day, a rate that could double in 2016.

Repsol said the start of production at Kinteroni is part of a five-year strategic plan that began in 2012. Assets covered under the plan have allowed the company to increase its annual rate of production by 7 percent.

Peru became a natural gas exporter in 2010 with the launch of its Melchorita liquefied natural gas plant, owned by a consortium that includes Repsol.

The U.S. Energy Information Administration said Peruvian gas production has increased exponentially since 2004 to a rate of more than 400 billion cubic feet per year.

Follow @dan_graeber and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Continental Resources declares win in Oklahoma basin Continental Resources declares win in Oklahoma basin
2
Maker of Camel cigarettes bans smoking in workplace Maker of Camel cigarettes bans smoking in workplace
3
U.S. oil exports at highest level since 1957 U.S. oil exports at highest level since 1957
4
Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal
5
Sandia National Labs develops zoom military rifle scope Sandia National Labs develops zoom military rifle scope
Trending News
Around the Web
x
Feedback