MADRID – Spanish energy company Repsol said Thursday that it has made a significant natural gas find in the Amazon region of the South American country of Peru.
Repsol SA said it holds a 53.8 percent stake in the find, with Brazil's Petroleo Brasileiro SA holding the remainder. It estimated the find could contain up to 2 trillion cubic feet of gas resources.
The company said a statement it struck gas at rates of 50 million cubic feet per day at depths of more than 2,700 meters (8,850 feet).
The find is located between Peru's Otishi National Park and the Megantoni Sanctuary, an area reserved for indigenous peoples who have voluntarily sought isolation from civilization.
Repsol said it has made more than 30 oil and gas discoveries in the last five years.