One of the measures will be MEM financing for S / 190 million for remediation of environmental liabilities.

Peru has established itself as one of the fastest growing economies and it is expected that by the end of 2019 it will be one of the fastest growing in South America. In the hydrocarbons sector alone, an impressive accumulated growth rate of 147.3% of GDP has been achieved, becoming an attractive country for investment.

During 2019, a 3% growth is estimated in terms of GDP in that industry. According to Perupetro, the projected investment for this year would reach US $ 700 million. He also explained that it is estimated that in the 2019-2023 period, oil production increases from 48 thousand to 100 thousand barrels per day and that of natural gas to 1,500 million cubic feet per day.

In that sense, the Vice Minister of Energy and Mines has explained that a series of measures will be applied in order to continue promoting the growth of the sector since it is important for the income generated by the State.

Among the measures to be applied is the investment in remediation of environmental liabilities. “This is a fundamental issue, it is the first time we have a budget of S / 190 million, this figure has never been had. We are working on several fronts to start remediation and that will help to have a very good relationship with the communities and show that we are worried and interested, “said Eduardo Guevara Dodds, Vice Minister of Hydrocarbons of MEM to Peru21.

Another measure was the changes that are expected in the ‘Organic Hydrocarbons Law’ that is currently under discussion at the congressional commission level. Also, Guevarra explained that another measure to be applied will be the revision of royalties.

This information was released during the presentation of the “Guide to Business and Investment in Gas and Oil in Peru 2019/2020”, in which the Ministry of Foreign Affairs, the Ministry of Energy and Mines, Perupetro, ProInversión and EY Peru, in order to seek a better and greater investment of the sector in our country.

The guide has been made in English and seeks to provide relevant information for investors who are looking for hydrocarbon projects worldwide.