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US Ex-Im Bank has approved a US$15.9mn credit guarantee facility to support the sale of US equipment and services to Petro-Tech Peruana of Lima, Peru for oil and gas exploration and development off Peru’s northern coast.

Banco Santander Central Hispano, New York, is the US Ex-Im-guaranteed lender that is providing the medium-term line of credit to Petro-Tech.

Petro-Tech, a wholly-owned subsidiary of Petro-Tech International, a  Delaware-incorporated company located in Houston, will procure the goods and services from a variety of US companies to support ongoing operations as well as expansion and exploratory activities that may include: exploration of the Chira and San Pedro fields; further development of the Block Z-6 area; upgrade of a petroleum gas cryogenic liquefaction plant north of Talara city; procurement of equipment and services for seismic studies in Block Z-6.