History

The need to prepare a new Hydrocarbons Law coincided with the political decision to reformulate the State's business role and the consequent restructuring of the Energy and Mining Sector, so that through Law No. 26221, “Organic Hydrocarbons Law” of the year 1993 PERÚPETRO SA is created . To learn more about the history of the organization you can click on the timeline.

 
  • Background

    The development of a new law that integrates all the regulations to which the oil industry in the country should be subject was necessary. The need to elaborate a new Hydrocarbons Law coincided with the political decision to reformulate the business role of the State and the consequent restructuring of the Energy and Mining Sector. Within this context, the need to review the role of PETROPERU S.A. was evaluated. In addition to make viable the privatization plans of PETROPERU S.A. the creation of a new state company that assumes the rights and obligations of PETROPERU in relation to the Contracts that it had signed was required.

    Creation: November 18

    PERUPETRO S.A. It was created by Law No. 26221, “Organic Hydrocarbons Law”. By Law N ° 26225, published on August 24, 1993 and in force since November 22, the “Law of Organization and Functions of PERUPETRO SA” was approved. Subsequently, by Supreme Decree N ° 048-93-EM, published on 15 On November 1993, the Company's Bylaws were approved.

    Social Objective

    The promotion of investment in hydrocarbon exploration and exploitation activities; the negotiation and supervision of oil contracts and technical evaluation agreements; payment of the fee, surcharge and participation in the rent; the commercialization of Hydrocarbons coming from the areas under Contract whose ownership corresponds to it. The Data Bank must also form and administer through third parties the information related to hydrocarbon exploration and exploitation activities.

    Production

    The average annual oil production in 1993 was 135,777 BPD.

    Contracts

    At the moment that PERUPETRO S.A. began its operations inherited nineteen (19) current PETROPERÚ contracts, ten (10) Exploitation contracts and nine (09) Exploration contracts.

    1993

  • Lots

    During 1994, the first year of effective management of PERUPETRO S.A., 4 new contracts were signed, three exploration and exploitation contracts for lots 71, 74 and 8X and a modification of Lot 65-M.

    Production

    The average oil production during the year was 127,308 BPD and that of natural gas was 97 MMPCD.

    Contracts

    As of December 31, 1994 there were eight (08) exploration contracts and thirteen (13) current operating contracts.

    1994

  • Lots

    Eight Exploration and Exploitation contracts were signed and new areas for contracting were promoted, calling for two International Bids, that of Lot 52 (Ucayali Basin - Central Jungle), which was awarded to Chevron and the Ucayali Basin Bidding Round , in which Lot 79 (Ucayali Basin - Central Jungle) was awarded to the Pluspetrol / PEDCO / Yukong association.

    Production

    The total average oil production of the country during 1995 was 121,762 BPD, gas field production was 96.79 MMMPCD and the inspected 25.82 MMPCD.

    Contracts

    As of December 31, 1995 there were fifteen (15) current operating contracts and thirteen (13) exploration.

    1995

  • Lots

    Eight (08) new Hydrocarbon Exploration and Exploitation Contracts and three (03) Exploitation Contracts were signed and two International Public Tenders for Hydrocarbon Exploration and Exploitation License Contracts in the Continental Socket, Lots Z-1 and Z-3 It should be noted that one of the contracts signed this year, on May 17, was that of Lot 88A-88B with the company Shell Prospecting and Development (PERU), these are the Camisea deposits located in the South Jungle discovered by the Shell itself in 1984.

    Production

    The country's total average oil production during the year 1996 was 119,970 BPD, the natural gas field production of 94901 MMPCD and the controlled 24.02 MMPCD.

    Contracts

    As of December 31, 1996 there are thirty-five (35) contracts in force, fifteen (15) for exploitation and twenty (20) for exploration. Being twenty-eight (28) of License and seven (07) of services.

    1996

  • Important

    After 1500 days since the creation of PERUPETRO S.A., for the first time a Memory was made that gathered the history of the company to spread to our target audience.

    New Contracts

    During 1997, three (03) new hydrocarbon exploration contracts were signed.

    Production

    The total average oil production in the country during 1997 was 118,239 BPD, the controlled gas production was 25 MMPCD.

    Contracts

    As of December 31, 1997 there are thirty-five (36) contracts in force, fifteen (15) of exploitation and twenty-one (21) of exploration. Being twenty-nine (29) of License and seven (07) of services.

    1997

  • Important

    This year was a difficult year because of the drastic decrease in the price of crude oil in the international market, which reached its lowest values ​​in the last 12 years and the Phenomenon of the Child that affected Northwest production. On the other hand, in relation to the Camisea Project, the Contractor communicated its decision not to continue with the Second Contract Period, being resolved and the government by means of an Emergency Decree created the Special High Level Committee for the Camisea Project.

    New Contracts

    Even so, during 1998, 15 License contracts, 14 exploration and 01 exploitation contracts were signed.

    Production

    The average daily production of liquid hydrocarbons at the national level was 115,593 BPD, the average national production of controlled natural gas was 39,526 MPCD.

    Contracts

    As of December 1998 PERUPETRO S.A. It has forty-one (41) contracts in force, with a committed investment of the order of 1,256 MMUS $, twenty-six (26) exploration and fifteen (15) exploitation.

    1998

  • New Contracts

    During 1993, PERUPETRO S.A. signed contract for Lot 39 in the Marañón Basin, with Barrett Resources (PERU) Corporation, despite the international crisis and made modifications to 23 contracts, many of them with the purpose of promoting their permanence in the country.

    Production

    The average production of liquid hydrocarbons nationwide was 105 thousand barrels per day and that of gas of 40 MPCD.

    Contracts

    As of December 1999, Peru has thirty-six (36) contracts in force, twenty-one (21) in the exploration phase and fifteen (15) in the exploitation phase. During this year, they finished six (06) contracts.

    1999

  • Important

    The promotion being the axis of PERUPETRO SA, a functional group formed by geologists was created, which is responsible for studying the areas available and returned for further promotion and through the PARSEP Project - Assistance Project for the Regulation of the Energy Sector of Peru, Studies of the Marañón, Santiago, Huallaga, Trujillo and Salaverry Basins were developed.

    New Contracts

    Two contracts were signed; a very important one: The License Agreement for the Exploitation of Lot 88 , to develop the Camisea Natural Gas and Condensate Sites, the largest and most important contract for the country in terms of hydrocarbons refer.

    Production

    The average production of liquid hydrocarbons was 99,217 barrels per day, the first time less than 100 thousand per day, since the 1970s.

     

    Contracts

    The total number of contracts in force as of December 2000 is 29, 14 for exploration and 15 for exploitation.

    2000

  • Important

    Four modifications were made to contracts in operation to encourage the increase in hydrocarbon production.

    Production

    The average production of liquid hydrocarbons was 97,097 barrels per day, but it is important to mention that at the end of the year it exceeded 100 barrels per day, as a result of incentives to increase the production of mature fields.

    Contracts

    The total number of contracts in force as of December 31, 2001 is 29, 14 for exploration and 15 for exploitation.

    2001

  • Important

    Modifications were made to contracts in the exploration phase, with the objective of encouraging exploration activities through the application of joint ventures (exploratory work units) as well as the reduction of up to 30% of the royalty, provided that in the next 4 years Get some commercial oil discovery.

    New Contracts

    Despite the difficulties in attracting investment, two exploration contracts were signed, 6 Technical Evaluation Agreements, 01 Promotion Studies Convention and 3 Value Added Speculative Agreements.

    Production

    The national production of liquid hydrocarbons was 96,865 barrels per day.

    Contracts

    The total number of contracts in force as of December 31, 2002 is 29, 14 in the exploration phase and 15 in operation.

    News

    During 2002 a change was made in the organization of the company, the Promotion and Planning Management and the Division of Environmental Protection and Communities were created.

    2002

  • Important

    The Board of Directors of PERUPETRO S.A. gave priority to the implementation of measures to attract investments, two new methodologies for the determination of royalties for contracts in exploration were incorporated, technical information was improved with the Preparation of the Marañón Basin Study (Part II) and improvement of information queries technique through the internet.

    New Contracts

    Two (2) License Agreements, (02) two Technical Evaluation Agreements, (01) a Promotion Agreement and (01) a Speculative Value Added Agreement were signed. It is worth mentioning the supervision of the Contract for Lot 88 - Camisea that was scheduled to go into production in August 2004.

    Production

    The average national production of liquid hydrocarbons was 91,350 bl / d, that of natural gas 56 MMPCD.

    Contracts

    The total number of contracts in force as of December 31, 2003, is twenty-seven (27), twelve (12) of exploitation and fifteen (15) of exploration.

    News

    Robertson Research was supported for promotional activities abroad, contacting 33 companies abroad.

    The cultural change and reorganization of the company continued in order to focus the activities towards the promotion of investments.

     

    2003

  • Important

    This year is very important for the sector, the June 2 began the commercial production of Lot 88 , Camisea.

    New Contracts

    Six (06) license agreements were signed, five (05) for the exploration and exploitation of hydrocarbons and one (01) for the exploitation of Lot 56.

    Production

    Thanks to Camisea's contribution, the production of liquids had an increase of 3%, with an average of 94,120 bl / d, while the gas had an increase of 64%, with an average of 82.94 MMPCP.

    Contracts

    As of December 31, there are thirty-one (31) contracts in force, fourteen (14) in exploration and seventeen in (17) exploitation.

    2004

  • Important

    It represents a “break point” or change in the situation of low exploratory activity in the country, a relaunch of it and an opening of new possibilities for future Gas and Oil discoveries.

    New Contracts

    15 new Exploration Contracts were signed, higher than the one obtained in all previous years, at the end there are forty-five (45) contracts in force, twenty-eight (28) exploration and seventeen (17) in production.

    Production

    The average production of liquids was 111,200 bl / d, 18.2% higher than in 2004 and gas of 146.7 MMcf / d, 76.9% higher than in 2004.

    Contracts

    At the end of the year there are nine (09) contracts under negotiation and approval of the Supreme Decree and one (01) with a supreme decree approved.

    2005

  • Important

    The declaration of commercial discovery of oil in Lot 67 in the North Jungle.

    On the other hand, heavy oil was discovered in Lot 39.

     

    New Contracts

    The year 2006 was a good year, 16 new contracts and 6 Technical Evaluation Agreements were signed.

    Production

    The production of liquid hydrocarbons averaged 115,581 b / d, an increase of 3.12%, compared to the previous year, the production of natural gas averaged 171.8 MMPCD, an increase of 17% compared to 2005.

    Contracts

    As of December 31, 2006 there are 61 contracts in force, 42 in exploration and 19 in operation.

    2006

  • New Contracts

    In terms of signing contracts, 2007 was very positive, 24 new License contracts for the Exploration and Exploitation of Hydrocarbons and 3 Technical Evaluation Agreements were signed, as a result of the Business Selection Process 13 of 19 lots offered were granted.

    Production

    The average monthly production of liquid hydrocarbons averaged 113,869 b / d, natural gas production averaged 258.86 MMPCD, an increase of 50.72% compared to 2006. Lot 88, Camisea, contributed 88% of national production.

    Contracts

    As of December 31, 2007, there are 84 contracts for hydrocarbons, 65 in the exploration phase and 19 in the exploitation phase.

    2007

  • Important

    In September 2008, the commercial exploitation of Lot 56 - Pagoreni - began with the production of natural gas liquids.

    This year the collection was made to Petrotech Peruana S.A. for the economic compensation of the Business Heritage Tax (IPE).

     

    New Contracts

    In 2008, the Business Selection and Lot Assignment Process was carried out and the Good Pro was awarded for 17 lots of 22 offered, at the same time 8 lots were awarded through direct negotiation.

    Production

    The average monthly production of liquid hydrocarbons averaged 120,128 b / d, natural gas production averaged 327,748 MMPCD, an increase of 26.61% compared to 2007.

    Contracts

    As of December 31, 2008, there are 80 contracts in force, 61 in the exploration phase and 19 in the exploitation phase.

    2008

  • Important

    At the end of 2009, commercial declaration of Lot 57 was made with the discovery of Kinteroni.

    New Contracts

    During 2009, 13 license agreements were signed.

    Production

    The average monthly production of liquid hydrocarbons averaged 145,280 b / d, 20.9% more than in 2008, natural gas production averaged 336.1 MMPCD, an increase of 2.6% compared to 2008.

    Contracts

    As of December 31, there are a total of 87 contracts in force, 68 for exploration and 19 for exploitation.

    2009

  • Important

    Commercial production of Lot 56 for the export of natural gas began in February and the first shipment was made on June 22, ending the year with 23 shipments.

    Petrobras had its second discovery of natural gas and condensates in the Lot 58.

    The high oil prices together with the higher production made the income of PERUPETRO S.A. be historical.

     

    New Contracts

    The Selection Process resulted in the granting of the Good Pro for 14 exploration lots out of a total of 25 lots offered.

    Production

    The average monthly production of liquid hydrocarbons averaged 157,325 b / d, 8.3% more than in 2009, natural gas production averaged 700.3 MMPCD, an increase of 104% compared to 2009.

    Contracts

    As of December 31, 2010, there are 85 contracts in force, 66 in the exploration phase and 19 in the exploitation phase.

    2010

  • Important

    High prices and the increase in the production of gas and condensates continue, making the income of PERUPETRO S.A. reach their historical maximum.

    New Contracts

    Five new contracts resulting from the 2010 selection process were signed.

    Production

    The average monthly oil production was on average 69,553 b / d and that of natural gas liquids 83,163 b / d, natural gas production averaged 1,099.1 MMPCD, an increase of 56.9% compared to 2010.

    Contracts

    As of December 31, 2011, there are a total of 82 contracts in force, 62 for exploration and 20 for exploitation.

    News

    A total of 55 shipments were made, Peru is the only exporter of LNG in the region.

    Awaiting the approval of the regulation of the Law of Prior Consultation to launch the following Selection Process.

     

    2011

  • Important

    The contractor of Lot 126 made light oil discovery, not having an accurate assessment of the discovery.

    In preparation Selection Process, after approval of the Prior Consultation Regulations, the process has begun with preparatory meetings.

     

    Production

    The country's oil production averaged 66,655 b / d, 4.2% lower than the previous year, due to lower production in the northern jungle, natural gas liquid production was on average 86,327 b / d higher at 3.8%, making a total production of liquid hydrocarbons of 152,982 b / d.

    Natural gas production averaged 1,144.25 MMPCD, the GN export consortium made a total of 53 shipments.

     

    Contracts

    As of December 31, there are a total of 80 contracts in force, 20 in operation and 60 in exploration.

    2012

  • Important

    The situation of oil production is expected to be reversed in 2014, with the start of heavy crude production and the contribution of recent discoveries.

    The low interest of the Bid for Offshore Lots before launching another selection process is analyzed.

     

    Production

    In 2013, the decline in oil production continued (-5.6%) compared to the previous year, the production of natural gas liquids grew by 21.2% and that of natural gas increased by 3%, based on the increase in LNG exports.

    Contracts

    As of December 31, there are a total of 74 contracts in force, 24 in operation and 50 in exploration.

    News

    In Lot 95, North Jungle, oil discovery was confirmed, also in Lot 58 there was the fourth discovery of natural gas and condensate, this discovery is expected to be declared commercial which will be the main contributor to the South Gas Pipeline.

    Also in November, the exploitation of heavy oils began in Lot 67.

     

    2013

  • Important

    The fall in oil prices deepened in December, with a decrease of approximately 42% less than the same period of the previous year.

    New Contracts

    On the other hand, contracts for the exploitation of hydrocarbons in Lots III and IV, on the coast of Talara, were awarded to GMP.

    Production

    During 2014, oil production grew by 10.2% compared to the previous year due to the increase in the production of Lot 67 in the northern jungle, the average was 69,204 b / d, the production of natural gas liquids was 103,427 b / d due to lower production in Lot 88 and natural gas production averaged 1,250.43 MMPCD.

    A total of 60 LNG shipments were made.

     

    Contracts

    As of December 31, there are a total of sixty-eight (68) contracts in force, 24 in operation and 44 in exploration.

    2014

  • Important

    Due to the tremendous drop in oil prices recorded during 2015, many drilling activities in the country were stopped, both in exploration and production.

    The fall in the price of oil continues, a fall of 28% is expected for 2016 compared to the previous year.

    New Contracts

    In 2015, contracts were signed for Lots III and IV in the northwest, for Lot IX, also in the northwest, the Temporary Service Contract for Lot 192 and the License Agreement for Lot XXIX.

    Production

    Oil production averaged 58,008 b / d, lower by 16.3% the previous year, natural gas liquids averaged 91,397 BPD, lower by 11.6% the previous year and gas was 1,294.67 MMPCD, 3.4% lower, due to the reduction in exports, despite the increase in domestic demand.

    The liquefied natural gas (LNG) export consortium made a total of 56 shipments.

    2015

  • Important

    During this year, despite the increased production of liquid hydrocarbons and natural gas, we remain a net importer of hydrocarbons.

    New Contracts

    In November, the Contractor made a declaration of commercial discovery in Lot 58, and the gas affiliation of the Camisea area and adjacent lots was confirmed.

    Production

    Due to the continuous decrease in oil production due to the prolonged interruption of the transport of the North Selva oil (30.4% lower than 2015), as a result of the breaks in the Norperuano Pipeline system and the continuous decrease in oil prices , 44 development wells and none exploration wells were drilled.

    Contracts

    As of December 31, 2016, there are a total of fifty-one (51) valid contracts, of which twenty-five (25) are in the exploitation phase, and twenty-six (26), in the exploration phase.

    2016

  • Important

    The board of PERUPETRO S.A. approved five new License Agreements with another world-leading company in deep-sea exploration and exploitation technology. These contracts are in process of approval by Supreme Decree.

    New Contracts

    In 2017, three new License Agreements were signed for the exploration and exploitation of hydrocarbons at sea, with a leading technology company, in lots located offshore at great water depths.

    In this year, 13 Technical Evaluation Agreements were also signed, in areas of the jungle, sea, coast and mountains.

     

    Production

    The country's average controlled oil production was 43.562 barrels per day (BPD), 7.9% higher than that recorded in 2016 (40,364 BPD), as a result of increases in production in the northern jungle.

    Contracts

    As of December 31, 2017 there are a total of forty-six (46) contracts in force, of which twenty-six (26) are in the exploitation phase, eighteen (18) in the exploration phase and two (2) in the retention period.

    2017

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