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Brazil's Petrobras aims to increase output in Peru
Petroleumworld Peru
LIMA
Petroleumworld.com 08 11 06Petrobras' president, José Sérgio Gabrielli de Azevedo, and Peruvian President, Alan Garcia, agreed to sign a Memorandum of Understanding in the coming weeks between the Brazilian company and Peruvian national oil companies Petroperu and Peru's energy regulator agency "Perupetro" to a possible association between Petrobras and Petroperu to form joint ventures in projects in common in the Exploration & Production, Natural Gas, Biofuel, Refining, and Petrochemical areas, said Thursday, Petrobras' president in a press conference, after meeting with Garcia.
Petrobras, also expects to be able to increase its production of oil and natural gas in Peru, Gabrielli said Thursday .
"We have good expectations to be able to improve the factors of recovery in the mature fields in petroleum, and have the possibility of using new technologies in the production of gas. We hope there will be a positive increase in our participation in Peru," Gabriella said at a press conference.
"We have identified several cooperation and association opportunities between the companies, not only in the oil and gas production area, but also in other activities Petrobras develops both in Brazil and abroad using our state-of-the-art technology and maintaining our strong concern with social responsibility," Gabrielli noted.
President Alan Garcia told reporters it was "an honor" to receive Petrobras' president, with whom his government intends to establish the necessary dialogue in order to carry out joint work with Petroperu. "We are confident with opening our doors to Brazilian companies in order to consolidate Peru's economic development," he said.
Gabrielli visited Peru at the request of president Luiz Inácio Lula da Silva. He left the meeting with Alan Garcia, as well as the gathering that Petrobras' high-level mission had with the Peruvian Energy and Mines Minister, Juan Valdivia, Vice-Minister Pedro Gamio Aita, and team quite optimistic.
"We believe there is a great possibility that we can increase our investments in Peru, including in association with Peroperu," said the president. "Our idea is not only to be technical cooperators. As we are on the oil-producing company, we want to discuss possibilities with investors, sharing risks," he explained.
Petrobras international area director, Nestor Ceveró, noted that the 2007-2011 Investment Plan Petrobras recently divulged does not foresee new investments in Peru. "New projects will have to be incorporated to the planned later, if they are approved," he clarified.
Petrobras has operated in Peru since the mid-1990s, and as of 2002 through a Petrobras Energía S.A. subsidiary headquartered in Argentina. The company has production activities in Lot X, in Talara, northeastern Peru, near the border with Ecuador, in addition to exploration activities in six slots which, together, add up to 57,500 square kilometers.
Petrobras Peru's current production is 15,000 barrels of oil and gas a day. Aiming at expanding its exploration and production activities, the Company has been positioning itself strategically in the Camisea Field region, in southern Peru, since last year. This field's total gas reserves surpass 15 TCF (Trillium Cubic Feet).
Petroleumworld 10 08 06
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