Pluspetrol to Invest $500m in Peru Natgas Block

The Camisea Consortium, led by Argentine energy company Pluspetrol, said on Monday it plans to invest $500 million in the next two years to explore and develop natural gas block 88 in southern Peru.

Blocks 88 and 56, both managed by the Camisea Consortium, hold some 13 trillion cubic feet of proven natural gas reserves, according to data from the energy and mines ministry.

Repsol, Hunt Oil, SK Innovation, Sonatrach and Tecpetrol are also partners in the consortium.

(Reporting By Patricia Velez; Editing by Tom Brown)