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Since Shell’s exit from the Camisea project, there had been no interest from major oil companies in exploring Peru
Themes
Published in
Desde Adentro
Since Shell’s exit from the Camisea project, there had been no interest from major oil companies in exploring Peru
Jorge Pérez-Taiman, head of the Oil and Gas Area at Estudio Rodrigo, Elías & Medrano, spoke with Desde Adentro about the challenges and opportunities for the development of exploration activities in the hydrocarbons sector.
In the last weeks, news emerged about Chevron’s entry into Peru. What challenges will it face?
The consortium that will explore Lots Z-61, Z-62, and Z-63 will be made up of Anadarko, owned by Occidental Petroleum; Chevron, one of the largest oil companies in the world; and the investment fund specialized in oil and gas Westlawn. Anadarko will be the operator. Peru has unexplored geological potential and adequate legislation, although it can still be improved, for example, by extending the term of license contracts until the depletion of reserves.
What advantages does forming this consortium have?
I would say it is an excellent combination of Occidental’s successful historical experience in Peru in the last century, with the technical and economic strength of a giant like Chevron, added to the financial capacity of Westlawn. Since Shell’s exit from the Camisea project, there had been no interest from major oil companies in exploring in Peru.