China National Petroleum Corp. (CNPC) has produced its first gas from Peru’s giant Block 58, state-run hydrocarbon agency Perupetro announced on Friday.
Block 58 is in Peru’s southern jungle zone, which accounts for more than 96% of the country’s gas production. CNPC bought the rights to the licence from Brazilian state-run Petrobras in 2014.
Lima said in November that CNPC had confirmed a discovery of 110.5 billion cubic metres of gas and condensate reserves in the block.
The discovery would boost Peru’s gas reserves by nearly 28%, according...