Shell and BPZ will make cooperation agreement to do seeking of new natural gas source in Peru. Both exploration companies of this mine hopes will get new source of natural gas, what can give advantage and increases result of exploration of second natural gas of company.

Planning of location nature gas source location search in three offshore block around 1,300 kilometers ( 800 miles) north of Lima.

To support seeking activity of natural gas source, Shell will invest in for the price of $300MM.

The agreement also contemplates the creation of a 50/50 joint venture to liquefy and export natural gas if such a move is warranted by the volume of gas discovered.

Zuñiga said he sought a partnership with Shell because BPZ needs support from “a big firm, with capacity to explore in deep waters, and which is concerned about the issues of safety and the environment.”

Shell’s regional general manager, Adolfo Heeren, said his company was convinced to resume exploration in Peru by the attractiveness of the “great and interesting” project.

“Conditions in the country have improved, in fact, but we work case by case,” he said. “There are opportunities and we will evaluate them, but for now we’re focused on bringing this project forward.”

Shell left Peru in 1997 after reaching an impasse in talks with then-President Alberto Fujimori about exploiting the giant Camisea natural-gas field the Anglo-Dutch oil giant discovered in 1983.

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