Business associations warned that the sector hydrocarbons is going through a “critical situation” due to the lack of investments and the possibility of oil lots being delivered without any bidding.
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Through a statement,he National Society of Mining, Petroleum and Energy (SNMPE), the College of Engineers of Peru – Departmental Council of Lima, and the Peruvian Hydrocarbons Society (SPH), reported that between January and August 2024, investments in the sector were barely They reached US$337 million.
“This is
an insufficient level to guarantee the sustainability of the sector and, most worryingly, the energy security of the country. Since 2012, proven reserves have decreased due to lack of replenishment, which requires immediate measures,” they expressed.
In addition, they pointed out that it is urgent that actions be taken to reactivate the industry, through
clear and stable conditions that promote private investment, as well as respect for the existing constitutional framework.
“Institutionalism, predictability and legal security are the basis for attracting capital that allows the country to reduce its dependence on energy imports and strengthen its energy sovereignty,” they added.
On the other hand, they indicated that they would be seeking to direct the delivery of certain oil lots without going through a fair and equitable bidding process, as established by current regulations.
In that sense, they requested that the autonomy of the hydrocarbon investment promotion agency, that is, Perupetro, be respected in the promotion and international bidding that allows achieving the best offer of investments and development plans that only benefit Peru.
“To ensure the future of this productive sector of the national economy, the National Energy Policy for 2050 must recognize the key role of hydrocarbons. To do so, it is essential: i) expedite permits that allow exploration and exploitation of new deposits; through new contracts that promote activities such as seismic, well drilling and the development of transportation infrastructure ii) adjust royalty scales according to production conditions and international price; iii) simplify procedures for offshore activities; guarantee the safe operation of the North Peruvian Pipeline and, v) guarantee the compatibility of hydrocarbons, respecting the protected natural areas, the environment and the prior consultation processes,” they commented.
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