Hunt Oil Company of Peru L.L.C., Sucursal del Perú (HOCP) is part of the Camisea Consortium and holds a 25.2% interest in the License Contracts related to the largest natural gas producing fields in Peru, the Camisea Fields; which include Block 88 and Block 56 in the Ucayali Basin of Peru. Block 88 is the largest source of natural gas production in Peru and also contains the largest number of Proved Reserves, while Block 56 is the second largest in Peru in terms of natural gas production and Proved Reserves. As a result of our 25.2% interest in the Camisea Consortium, we also hold a 25.2% interest in each of the facilities related to the Camisea Fields, including the Malvinas Plant, a natural gas processing plant near the Camisea Fields and the Pisco Plant, a liquids fractionation facility near Pisco, Peru on the Pacific coast.
On February 15, 2018 HOCP executed three technical evaluation agreements “TEAs” with Perupetro to perform seismic reprocessing and re-interpretation and other studies related to existing wells in three exploration blocks in the Ucayali Basin denominated as Blocks LXVI, LXVII and LXVIII. The TEA’s have a 2 year commitment with the option to extend it for an additional year.
Finally, HOCP held 33% of the License Contract for Block 76 which was returned to the Peruvian Government in August 2017. Currently, the activities on Block 76 are focused on the abandonment plan according to commitments pursuant to the environmental impact assessment.