BPZ Energy is an independent oil and gas exploration and production company with license contracts covering approximately 1.9 million net acres in four properties in northwest Peru. The Company is currently listed both on the New York Stock Exchange and Bolsa de Valores in Lima, Peru under the ticker symbol BPZ.
The Company is currently producing oil from the Corvina and Albacora fields at offshore Block Z-1. A 1,600 square kilometer 3D seismic survey, which was initiated in 2012 and completed in early 2013, will better define the exploration and development projects at Block Z-1. In addition, a new CX-15 platform (shown left) has been fabricated and placed at Corvina to begin a drilling campaign to develop its proved undeveloped reserves. Block Z-1 operations are being conducted through a joint venture partnership with Pacific Rubiales Energy.
Onshore, the Company has focused on seismic data acquisition at Blocks XIX, XXII and XXIII to lay the groundwork for exploration drilling in the future. The Company also owns a non operating net profits interest in a producing property in southwest Ecuador.