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CMS Grau advises Tullow Oil on the percentage acquisition of oil block in Tumbes, Peru

DEAL ALERT | February 2018

07 February 2018

CMS Grau has helped UK extraction company Tullow Oil acquire a 35% share in an offshore oil block in Peru’s Tumbes Basin. The agreement includes the financing of 43.75% of the total cost of the first exploration.

The Z-38 Blocks includes the first deep-water prospects to be drilled in Peru, which has been delayed for several years due to the technical and economic challenges it represents.

As part of CMS Grau, the transaction was led by Carlos Hamann and Augusto Astorga, partners of Oil and Gas practice area.

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