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May 17, 2010

BPZ Resources Signs Albacora Delivery Deal

BPZ Resources said its subsidiary BPZ Exploracion & Produccion has signed a sales contract with PetroPeru to deliver oil from its Albacora field located offshore Peru. The contract for the delivery of up to 400,000 barrels of oil from block Z-1 was signed last week, BPZ said.

By cms admin

BPZ Resources said its subsidiary BPZ Exploracion & Produccion has signed a sales contract with PetroPeru to deliver oil from its Albacora field located offshore Peru.

The contract for the delivery of up to 400,000 barrels of oil from block Z-1 was signed last week, BPZ said.

The company said it has already delivered its first shipment of about 28,500 barrels to PetroPeru’s refinery.

The company is beginning negotiations with PetroPeru and potentially other buyers for a long-term sales contract for its Albacora oil, BPZ said.

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