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

• 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.