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Alan Garcia: Record Breaking Number of Oil & Natural Gas Projects to Begin in Peru

(LIP-ir) -- After announcing that 18 companies would sign contracts to explore for oil and natural gas in Peru, President Alan Garcia expressed his desire for Peru to regain its place as an oil exporting country.

"My ambition is that Peru recovers its giant place as an oil exporter in 2011," stated President Garcia after inaugurating the first International Defense Technology Exhibition last night. He added that as Peru grew as a nation it was necessary to export oil and not rely on other countries for it.

President Alan Garcia is to preside over the signing of 18 oil and natural gas exploration contracts today at 7 p.m. at the Goverment Palace. Being the first time that 18 contracts will be signed in the history of Peru, the event has been described as a milestone in Peru's hydrocarbon industry.

After the signing of the 18 exploration contracts today, a total of 24 contracts will have been signed this year, the greatest number of licensing contracts signed in one year for the exploration of hydrocarbons in the history of Peru.

It was announced that exploration would be in ten different regions in Peru, from the northern coast to Peru's jungles. The companies that are to sign the contracts are the following:

United States
Vetra Energy Group LLC
BPZ Energy Inc
Hunt Consolidated Inc
Occidental Petroleum Corporation
Canada
Pacific Stratus Energy Ltd
Canada/Colombia
Consorcio Talismán Energy Inc and Ecopetrol S.A.
Russia
Samaraneftegas S.A.A
Ireland
Pan Andean Resources Plc.
Korea
SK Energy Co Ltd
Vietnam
Vietnam Oil and Gas Group
Peru
Petro-Tech Peruana S.A.

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# D. Bambrough says :
21 November, 2007 [ 11:55 ]

 
It is wonderful that Peru has made so much progress in the world and I am very happy to see  this.  However, all this Gas and Oil extraction will come at a great cost to Peru's natural beauty.  The greatest attraction of Peru is its pure and natural state.  I fear that for greed of Alan Garcia and the Government, Peru will become another Africa and no matter what, the peoples of Peru will not benefit in the long run.  There will still be a hugh social problem and the rich will just get richer.  Good luck with this but what I have seen in the rest of the world because of oil and gas extractions in countries, it is not a positive thing.   Take a good look at Brazil and what they have accomplished with Glycol.  The are no longer dependent on Gas or Oil anymore.  Something can be learned from this.   Do not ruin Peru in this way.  It is the natural beauty of the country that makes it attractive to tourism. 
D. Bambrough
Toronto, Canada

# michelle Zaldumbide says :
22 November, 2007 [ 10:32 ]

 I absolutely agree with the comment from D. Bambough from Canada. Alan Garcias and his administration  are really being short sighted in their quest for "progress" and so called independence from relying on  other countries for oil. This is an old story and as history as shown time and time again, not a very successful one. The dependence on oil is a no win situation. WE( all countries) in the world must start looking at other renewable sources of energy!!! Its sad that big powerful nations such as the USA with their overcosumption of oil set such poor examples for 3rd world countries in their oil consumption..I truly hope that Peru realizes that like Brazil has, that there are other  solutions to just OIL!!! I hope that Garcia and the presidents to come realize how important it is to preserve Peru.THE solution is NOT MINING FOR MORE OIL!!!  Renewable sources of energy must be explored and put to use before its too late.... I pray and hope that the people of PERU oppose this!!!

# Mr. Petroleum Engineer says :
24 November, 2007 [ 02:03 ]

Oil and Gas exploration does not ruin a country.  Oil is a necessary part of life these days, and this will not change anytime soon.  Peru can greatly benefit from any part that it can play in the oil and gas industry.  If you have not checked lately oil is at $97 the barrel, an amount that provides for much profit to be made, for companies as well as Peru itself.

-I am Peruvian, and I would like it to succeed!

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