LIMA Oct 18 China National Petroleum
Corporation Corp likely has 3-4 trillion cubic feet
of proven natural gas reserves in an energy block it operates in
southern Peru, Peru's president said Tuesday.
CNPC bought the rights to explore Block 58 in Peru's
southern Amazon from Petrobras in 2014. The block then had
proven reserves of about 2 TCF.
"The block that CNPC has ... will soon be declared viable
with three to four trillion in proven reserves of gas," Peruvian
President Pedro Pablo Kuczynski said in a speech at an energy
Peru's energy and mines minister has previously said that
Block 58 likely has "important reserves" that would help ease
concerns over whether a $5 billion natural gas pipeline being
built in the region will find enough demand.
The government expects the company to make a detailed
announcement next month when Chinese officials visit Peru.
(Reporting By Marco Aquino, Writing By Mitra Taj; Editing by