Bidders Prequalify for Peru Oil Blocks

Offers from 8 companies have prequalified to compete for 14 oil and natural gas blocks in Peru, says state oil contracting agency Perupetro. The investment needed to develop the blocks is estimated at $700m over the next 7 years, Perupetro says. The bidders are Argentina’s Tecpetrol, Colombia’s Ecopetrol, a consortium of Repsol, Ecopetrol and YPF, a consortium of YPF and Petrouruguay, UK-based Pitkin Petroleum and Sinochem unit Emerald Energy.