BPZ Energy Begins Oil Production in Peru
Posted on: Thursday, 15 November 2007, 12:00 CST
BPZ Energy has commenced oil production at the CX11 platform in the Corvina field of its offshore Block Z-1 in northwest Peru.
This early production was initiated pursuant to the company's initial development plan that requires the new wells to be put on extended production tests. The company began producing from the CX11 platform on November 1, 2007 using two 6,000 barrel capacity tankers leased from the Peruvian navy.
The two navy tankers will deliver the first 10,000 barrels of Corvina oil to the company's 40,000 barrel transport barge, which will be moored adjacent to Petroperu's Talara refinery located approximately 70 miles south of the Corvina field.
Manolo Zuniga, president and CEO of BPZ, said: "The accelerated oil production from the Corvina field, and the forthcoming delivery of our first cargo to the Talara refinery, are historical milestones for BPZ. We have taken our first major step in evolving from a company in development, to an established exploration and production company."
Source: Datamonitor
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