Investments could reach up to $47 billion US dollars.

Soon, Peru could be making investments for more than $47 billion dollars and increase its crude production through the approval of standards and application of those already in force, said the director of Enerconsult, Carlos González.

To achieve this goal, it was necessary the approval of the new Organic Law of Hydrocarbons in Congress, in order to promote investments in this field.

“This project, I suppose that due to the change of government authorities, will be reviewed by the new authorities”, said González.

In February, the Vice Ministry of Energy said that the approval of the new Organic Hydrocarbons Law would contribute to achieve investments of $47 billion dollars, informed El Peruano. He also believes that in addition to the approval of this norm, the regulations referring to environmental authorizations and permits should be reviewed in order to make them more flexible and agile.

The director of Enerconsult also said to El Peruano that “in the short term, with the application of current regulations, the daily crude production could increase to 5,000 barrels.”

“According to Peru-Petro statistics, in 2017 the average oil production was 43,562 barrels per day, and so far in 2018 the average production has been of 49,921”, this news website explained.

(Source)
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