As of 19 October 2018, GeoPark Ltd is currently seeking partners on Block 64 located in northern Peru in the Maranon Basin along the border with Ecuador. According to the operator two wells, the Situche Central 2X and 3XST, tested a combined rate of 7,500 bo/d of light oil. GeoPark has submitted an environmental Impact study (EIS) on a field development plan for the Situche Central Field to the Senace for evaluation and approval and a public hearing is scheduled for the Q4 2018. The company is said to be looking for capitol to begin development once approvals have been granted. GeoPark wonât start recuperating cost from its partner Petroperu until the field begins producing when back cost will be deducted from its share of production.   According to the company the Situche Field contains 80 MMbo (36 deg API) with an upside potential of 211 MMbo gross. There has been 2,700 km of 2D seismic along with 460 sq km of 3D seismic acquired on the block. A regional pipeline also is accedable on the block allowing for transportation of the crude to markit.  The 7,634.54 sq km Block 64 was originally awarded to Arco in April 1996. At the time of award, the block carried a minimum work expenditure requirement of USD 44,300,000. The blocks original size was 9,537.90 sq km but was reduced to the current size of 7,634.54 sq km in May 2006. Arco and Occidental were originally 50/50 partners in the block in 1996. Arco sold a 25% working interest to Repsol in June 19999, later that same year Arco sold its remaining 25% interest to Burlington Resources. The partnership remained in this configuration until April 2004 when Amerada Hess and Talisman Energy acquired the interest of Repsol and Burlington. In 2007 Occidental sold its 50% interest to Hess and Talisman creating a 50/50 partnership with Talisman as operator. In May 2013 the block on the verge of being relinquished was turned over to Petroperu who then brought in GeoPark Ltd in December 2016 creating a new partnership of GeoPark 75% and Petroperu 25 %. The contract has had several periods of being placed in Force Majeure in which the most recent time of entering that stage was January 2014.
Peru, Block 64