Repsol and Hunt Oil are planning to invest a total of $1.5 billion in Peru this year, Bloomberg reports. Hunt Oil is expected to begin its $4 billion Peru liquefied natural gas export plant operations in July. Repsol is also looking to build the northern oil fields, which will require a pipeline extension.
The Andean country is expecting to double its oil and natural-gas output by 2015. Repsol, Talisman Energy and Ecopetrol’s Peruvian unit are among companies that will drill at least 10 exploration wells this year. A group led by Pluspetrol is planning to invest $2 billion in the Camisea gas fields by 2012.
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