Peru: Gran Tierra has landed another block here
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Gran Tierra wins Peru block
Calgary-based Gran Tierra Energy has been awarded Block 128 in the Maranon basin, northern Peru.
The block, which is adjacent to company’s existing Block 122, covers about 8900 square kilometres on the crest of the Iquitos Arch.
Gran Tierra is required to invest at least $500,000 during the first of four work periods and may invest up to $3.6 million over the entire seven-year exploration term.
The licence includes an exploitation term of 30 years for commercial discoveries of oil.