Occidental Petroleum Subsidiary Advances Offshore Drilling Plans in Peru
Anadarko Peru, a subsidiary of Occidental Petroleum (NYSE:OXY), is moving forward with plans to drill its first exploration well offshore northern Peru in 2027. This initiative aims to unlock a new source of domestic oil and gas in the Trujillo Basin. Anadarko Peru, which operates offshore Blocks Z-61, Z-62, and Z-63, has informed the state hydrocarbons agency Perupetro of its decision to enter the third exploration period, specifically focusing on drilling in Block Z-62. This decision follows a significant 3D marine seismic campaign in 2024, which covered 6,018 square kilometers and cost approximately $40 million. The survey identified promising geological structures for hydrocarbons. Occidental Petroleum has also brought in Chevron, which acquired a 35% interest, and Westlawn, which took a 30% interest, leaving Anadarko as the operator with the remaining stake. 
