“Block 114 located in Central Peru: 1.85 million acres;
At least 10 anticline structures identified in Block:
Estimated oil resources in block: 400 millions Barrels; API of oil: 30 – 35°;
Easy river access to refineries. Exploration commenced Q3 2006.
First phase involves reprocessing and interpretation of 500 kilometres of seismic followed by 150 kilometres of new seismic and one well.
Technical and environmental work in progress on Rio Caco structure.
Drilling up to 3 wells on Rio Caco to be completed by April 2008.
Block 114, located in the Ucayali Sub Andean Basin, north of the world-class Camisea gas-condensate field, with proven and probable reserves in the range of 15 TCF of natural gas and 600 million barrels of condensate. Block 114 is located to the south of important oil and gas fields such as Maquia, Aguas Calientes and Aguaytia. The immediate focus will be on confirmation and production drilling of the Rio Caco Structure. Potential recoverable reserves are in the range of 90 million barrels. Production would reach 30,000 barrels per day in 2012. The Work Plan will be to carry out the required Environmental Impact and Technical Evaluation work, in order to be drilling the Rio Caco confirmation well beginning in August-September 2007. Should that well be successful, three additional wells would be drilled as soon as practical and production would be flowing beginning in March-April 2008.”
Considering such law, the Government promotes the development of Fuel Resource activities based on the free competition and access to the economic activity, guaranteeing the juridical stability of the contracts according to provisions set forth in article 62° of the Constitution of Peru.Likewise, it guarantees the Contractors the stability of the taxation and foreign exchange regimes in force to the date of the signing of the contract.
According to the International Labour Organization’s Convention (No. 169) concerning Indigenous and Tribal peoples in Independent Countries:
1. The rights of the peoples concerned to the natural resources pertaining to their lands shall be specially safeguarded. These rights include the right of these peoples to participate in the use, management and conservation of these resources.
2. In cases in which the State retains the ownership of mineral or sub-surface resources or rights to other resources pertaining to lands, governments shall establish or maintain procedures through which they shall consult these peoples, with a view to ascertaining whether and to what degree their interests would be prejudiced, before undertaking or permitting any programmes for the exploration or exploitation of such resources pertaining to their lands. The peoples concerned shall wherever possible participate in the benefits of such activities, and shall receive fair compensation for any damages which they may sustain as a result of such activities.
For more information about the destruction caused to the environment and indigenous communities by oil companies, check out Amazon Watch and Oilwatch. There are hundreds of resources available on the internet documenting the destruction to the world’s indigenous and other marginalized communities and their environments around the world by oil companies.
their access to healthy ecosystems.Village Earth is working with communities to help them protect and defend their territories and environments.
What can you do to help?
- You can donate to Village Earth’s efforts to help protect indigenous land in the Peruvian Amazon.
- Lessen your dependence on oil and oil-based products. In the global market economy, only when demand for oil drops will drilling cease. Therefore, the future lies in YOUR hands.
- Write to these companies and let them know that you disapprove of drilling for oil on or near indigenous lands in the ecologically-fragile Amazon region:Dr. John Teeling
Pan Andean Resources
162, Clontarf Road