The president of Petroperu, Seferino Yesquén, said that the company seeks to reach 100,000 barrels by 2023, with 40 oil exploration contracts and 30 exploitation contracts, a plan that will have an investment of $5 billion US dollars.
During the event Peru Energy 2018, Yesquén said that while the global trend reflects an increase in production, in Peru the opposite occurs with a production of only 49,000 barrels per day.
“According to Yesquén, the current investment reaches just over $400 million US dollars in exploration, which reflects the adverse figures”, wrote América Economía.
In order to comply with the estimated goal, Petroperú not only works on a new General Hydrocarbons Law but also advances a process of restructuring the company to convert it into the Hydrocarbons Promotion Agency. This seeks to maximize the oil recovery and natural gas fields Peru has.