As part of the package of measures for Fiestas Patrias, the president of the Peruvian Hydrocarbons Society (SPH), Felipe Cantuarias, considered that it is necessary for the Executive to announce initiatives to reactivate investments in the sector. Hydrocarbons.
“We have proposed to the Executive to launch a confidence-building measure to encourage national and foreign investment to return to the Peruvian hydrocarbon sector, through a package of reactivating measures that can be implemented in the short term,” he said.
The first proposal is to provide predictability and legal security for investments by reducing the time required to obtain exploration licenses, which in Peru can take four years, while in other countries in the region it takes between four and eight months.
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Another urgent action is the approval of a level tariff that would allow natural gas to be brought to the regions at the same price as in Lima, which would also increase demand and, therefore, the construction of infrastructure in the interior of the country (pipelines).
Regarding the reactivation of hydrocarbon exploration projects, the SPH raised the need to promote the bidding of plots on the northern coast, which represent 38% of total oil production. A new royalty system has also been proposed that does not discourage investment.
He also called it urgent to continue exploring for natural gas to replenish reserves and ensure a secure supply horizon for this important resource.
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