Peru's state-owned oil giant PetroTech has recently struck a natural gas field off the coast in northern Peru, with the daily output estimated at about 57.1 million cubic meters, local media reported Wednesday.
The gas reserves of the San Francisco gas field, some 7.5 km from the coast of Piura province, are estimated at 10-24 million cubic meters, according a statement from PetroTech.
Petrotech is authorized to explore and exploit oil and gas Piura province and the company has invested 10 million U.S. dollars in related projects.
It has planed to build six new platforms and drill 15 gas wells there, with an investment of 120 million dollars.
Under Peruvian relevant law, only state-owned oil companies have the right to explore and exploit oil and natural gas in the country.
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