Karoon Energy International has submitted an environmental and social impact study to Peru’s energy and mines ministry for an exploration campaign on offshore block Z-38.

The block covers 487,500ha off the coast of provinces Contralmirante Villar, Tumbes and Zarumilla in northern Tumbes region.

The US$729mn program includes 10 exploration and 10 confirmation wells, according to the document. Each well will take two to three months to drill.

Last month, the government authorized Karoon to farm into the block with a 75% stake. Vietnam American Exploration will retain 25%.

In Peru, Karoon already holds a 100% stake in onshore block 144.

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