Peru has signed a decree to earmark all natural gas from block 88 in the Camisea field for domestic use.
The decree authorises the Peruvian Government to negotiate with the Pluspetrol-led consortium to guarantee that gas used for export comes from the smaller neighbouring block 56, according to Energy Global.
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Although small, block 56 is expected to contain enough gas for at least ten years.
A consortium led by Hunt Oil has an agreement with Peru to export 4.2 trillion cubic feet over the next 20 years.
The consortium does not intend to tap block 88 for at least five years.
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By GlobalData
