Petroperú Aims To Execute 30 Oil exploration Contracts By 2023

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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.

“In addition, it seeks to provide contingency solutions in the fields discovered in the last 10 years and to raise the levels of exploration for which Perupetro would define the potential”, wrote this website.

(Source)
(Cover Photo Pixabay)

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Ermelinda is a journalist from Caracas, Venezuela. She has a Master’s degree in Digital Journalism and has recently finished a technical degree in Veterinary Assistance because of her love for animals. She likes to do sports, but especially ballet, which she has practiced for more than 17 years. Her passion is to read, write, and blog about different topics, as well as travel whenever she can.