CNPC's nat gas block in Peru likely has 3T-4T cf in reserves

|By:, SA News Editor

China National Petroleum (PTR +1%) likely has 3T-4T cf of proven natural gas reserves in an energy block it operates in southern Peru, Pres. Kuczyinski says.

CNPC bought the rights to explore Block 58 in Peru's southern Amazon from Petrobras in 2014; at that time, the block had proven reserves of ~2T cf.

Peru's government has said Block 58 likely has "important reserves" that would help ease concerns over whether a $5B natural gas pipeline being built in the region will find enough demand.