Technical Evaluation Agreements
The Technical Evaluation Agreements (“are agreements signed by PERUPETRO S.A. with national or foreign individuals or companies, or with consortiums (hereinafter, "Oil Company"), so that, under international quality standards, they perform work and / or comprehensive geological-geophysical studies, which will allow them to confirm their interest in entering into License Contracts for the exploration and production of hydrocarbons.
Currently, PERUPETRO S.A. promotes the celebration of two types of Technical Evaluation Agreements:
- Technical Evaluation Agreement (TEA)
Signed with Oil Companies that qualify based on a referential work program defined by PERUPETRO S.A. for the Agreement itself.
This type of agreement can only be signed with respect to areas classified as "Frontier", that is, with not enough geological knowledge to determine their hydrocarbon potential.
- Technical Evaluation Agreement - Contract (TEA-Contract)
Signed with Oil Companies that qualify based on referential work programs defined by PERUPETRO S.A. both for the Agreement itself and for a future License Contract.
This type of agreements can be signed with respect to areas classified as "Frontier" or "Semi-explored". The latter referred to areas which hydrocarbon potential is not well defined and/or have limitations in access and transportation facilities.
Under the Technical Evaluation Agreements, Oil Companies can carry out studies, works and activities that use non-intrusive geophysical methods, aerogravimetry, aero-magnetometry, geochemistry, geology, cartography, photogeology and, in general, surface prospecting activities, use of remote sensors, geological-geophysical re-assessment of the existing information in the Data Bank of PERUPETRO SA, seismic reprocessing, field geology, sampling and geochemical analysis.
Subject to a negotiation with PERUPETRO S.A. on the work program to be carried out by the Oil Company, the Agreements may have a term of up to two (2) years.
Subject to the fulfillment of its commitments, the Oil Company will have a right of "First Option" to negotiate and subscribe a License Contract for the Exploration and Exploitation of Hydrocarbons over the evaluated area.
For more information, please refer to the following links:
- Policy of Technical Evaluation Agreements – Board Resolution N° 078-2017
- Modification of thePolicy of Technical Evaluation Agreements
- Subscribed Agreements