The Oil & Gas Year Peru 2015
In 2015, the Peruvian government is making significant efforts to attract both local and foreign investors to its hydrocarbons industry, despite the effects of political instability and dampening international oil prices.
The approach to revitalising the industry and continuing the trend of steady economic growth will be multifaceted and will largely involve of the expansion of midstream infrastructure, namely the Southern Peru Gas Pipeline, which is expected to encourage increased natural gas production from the sizable Camisea gasfields and bring prosperity to Peru’s southern regions. The critical pipeline project will contribute to the development of the Southern Energy Node, consisting of several power and petrochemicals plants. As part of Peru’s concentration on natural gas, three major concessions have been awarded for the mass supply of natural gas throughout the country. With major projects such as these, the economy is surely set for a boost as thousands of jobs will be created and domestic industries developed.
Being a country of diverse communities and geography, Peru must grapple with several obstacles to industry growth, including the relationship between oil and gas companies, the government and indigenous communities, as well as striking a balance between environmental preservation and much needed economic growth. The government has already passed legislation regarding these issues and is working towards further transparency and accountability in the domestic hydrocarbons industry.
The Oil & Gas Year Peru 2015 hosts interviews with Former president of Perupetro Luis Ortigas Cúneo, ProInversión executive director Carlos Herrera Perret, Peruvian Hydrocarbons Society president Beatriz Merino and dozens of domestic oil and gas industry leaders to gather their opinions and observations of market conditions.