1st Apr 2014 16:46
LONDON (Alliance News) - Energy company Maple Energy PLC, which has assets and operations in Peru, said Monday that it has signed a new lease contract with Petroperu for the Pucallpa refinery.
The company said that the new term is 10 years, with the possibility of negotiating an extension.
Maple Energy said that as part of the lease obligations, it will install additional tanks to meet increasing market needs and undertake other works to update existing facilities.
Maple Energy also confirmed the extension of blocks 31B and 31D license contracts, which it said are key milestones for its oil production, refinery and marketing business.
"It is worth to mention also that the announcements of light crude oil discoveries in the Ucayali basin by independent international oil companies may represent an upside opportunity for our oil production, refining and marketing business in coming years," said Chief Executive Guillermo Ferreyros in a statement.
Shares in Maple Energy closed at 11.00 pence per share Tuesday, down 18.6%.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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