News In Brief: ConocoPhilips Pulls Out Of Maranon Basin Blocks

News: US-based ConocoPhillips will not pursue further exploration in two blocks in Peru in a bid to reduce its non-core overseas assets. The firm will transfer its 45% stake and operation of blocks 123 and 129, located in the Maranon Basin, to junior partner Gran Tierra Energy. ConocoPhillips has recently completed two rounds of seismic exploration activities in the blocks.

This article is tagged to:
Sector: Oil & Gas
Geography: Peru

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