Peru Approves Cheiron Subsidiary to Operate Lot 192 Oil Field
1 report, 1 independent
Updated Oct 25
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What happened
Peru approved Petroloreto, a unit of Cheiron Holdings Egypt Limited, to operate Lot 192 oil field in the Amazon region. Petroloreto takes 75% of the license contract, while state-owned Petroperú retains a 25% stake. The approval was granted via a decree published on October 23, 2026.
From riotimesonline.com
Why it matters
The agreement allows Cheiron to run the long-idle Amazon oil field, testing Peru's capacity to attract foreign capital back into the sector. Perupetro estimates the initial output of the modest field at about 5,000 barrels a day.
Several international energy companies, including TotalEnergies, Petrobras, and QatarEnergy, are currently considering entering Peruvian offshore oil blocks.
From riotimesonline.com
Who's involved
- PeruSovereign state that approved the transfer of the Lot 192 license contract.