Clontarf Energy provides an update on progress on its 100 per cent owned Blocks 183 and 188 in Peru. Block 183 in central Peru covers 396,826 hectares. Block 188 in southern Peru covers 595,809 hectares and is located only 100 kilometres north east of the Camisea gas field.

Clontarf Energy plc is advancing towards securing strategic partnerships in both Blocks 183 and 188 in Peru.

Block 183:

The Company’s negotiations to date have focused on the Pacaya structure and the possible implementation of an integrated gas-condensate project, with estimated prospective reserves of 870 billion cubic feet of natural gas and 45 million barrels of condensate according to our latest most probable scenario.

Negotiations are complicated by the need to verify gas off-take levels in order to justify upstream investment in required exploration wells to confirm these resources. Clontarf is in advanced discussions with a European power generation group, over a projected 160 MW first phase power generation project, as well as with a leading natural gas distribution group.

Tags: Clontarf Energy