Canada's Talisman strikes oil in Peru - president

Sat Nov 7, 2009 2:29pm EST
 
[-] Text [+]

LIMA, Nov 7 (Reuters) - Canada's Talisman Energy Inc has found light crude in an exploration bloc in northern Peru, President Alan Garcia said on Saturday, days after he announced a large natural gas find in an Amazon region.

Talisman (TLM.TO), Canada's third-biggest independent oil explorer, found the light crude deposit in the Maranon basin close to the border with Ecuador, Garcia told reporters.

"Talisman has found ... light crude that will be suitable for mixing with heavy crude to be able to transport it via pipeline," he said.

Garcia, who is facing calls to secure the Andean nation's future energy supplies, said earlier this week that Brazilian state energy firm Petrobras (PETR4.SA) (PBR.N) had found a large deposit of natural gas in the Peruvian Amazon.

However, the Brazilian company said on Friday it was still studying drilling results from lot 58 in an Amazon jungle region and was yet to estimate the size of the deposits.

Peru, which is trying to become a net energy exporter, is encouraging foreign companies to invest in the industry to boost production.

No one could immediately be reached at Talisman to comment. (Reporting by Teresa Cespedes; Writing by Helen Popper, editing by Philip Barbara)

 

More News

Petrobras says Peru natgas well needs more study
Friday, 6 Nov 2009 12:55pm EST 
Peru's Garcia says Petrobras finds 1 tcf of natgas
Thursday, 5 Nov 2009 01:26pm EST 
Petrobras, YPF to explore Uruguay offshore blocks
Thursday, 22 Oct 2009 02:43pm EDT 

Featured Broker sponsored link

Interview:

A street sign is seen in front of the New York Stock Exchange on Wall Street in New York, February 10, 2009. REUTERS/Eric Thayer
Taking aim at Wall St

Ohio's top lawyer is knee-deep in litigation against major financial giants. Calling it a "badge of honor" to hold Wall Street accountable for its actions. Richard Cordray is looking for a fight.  Full Article | Full Coverage