Peru awards two oil blocks to construction firm Grana y Montero
LIMA Dec 12 (Reuters) - Peru has awarded the rights to develop oil blocks III and IV in the northern region of Piura to the energy unit of Grana y Montero , the country's biggest construction company, the government said on Friday.
Block III now produces about 3,000 barrels per day and block IV about 900 bpd, state energy agency Perupetro said.
The company will invest $600 million over 10 years in the two concessions, which will eventually produce a total of 5,000 bpd, said Francisco Dulanto, president of the board of Grana y Montero Petrolera.
State energy company Petroperu will take a minority stake in each oil block, part of an ongoing effort to strengthen the company through partnerships with the private sector, Perupetro President Luis Ortigas said.
Perupetro is charged with promoting energy investments and granting concessions, while Petroperu is the state-run operating company.
The size of Petroperu's share in Grana y Montero's new oil blocks will be decided in the next 45 days, Ortigas said.
The concessions were previously held by Norwegian energy company Interoil and will be transferred to Grana y Montero in April, Perupetro said.
Ortigas also said that Perupetro would open seven oil blocks in the country's Amazon region up for bidding on Monday.
Auctioning of eight additional Amazon concessions will start around the middle of next year, and another 11 will be offered up by the end of next year, Ortigas said. (Reporting By Teresa Cespedes; Editing by Peter Galloway)
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