Chevron operates across the entire energy value chain, covering exploration, production, refining, and distribution.
Its arrival in the South American country is regarded by Minem as a magnet for new investments by major global energy competitors.
Minister Montero emphasized that the Trujillo Basin, where the exploration blocks are located, holds significant undiscovered potential.
In case the exploratory work in the basin yields favorable results, Peru could experience a major discovery that would improve the country's currently deficit-ridden hydrocarbon trade balance.
"The entry of Chevron and Westlawn to explore the Trujillo Basin, alongside Anadarko, will bring in expertise and technology adhering to the highest international socio-environmental standards," Montero stated during the ceremony marking the amendment of exploration and exploitation contracts for Blocks Z-61, Z-62, and Z-63.
"Our government is committed to consolidating a diversified project portfolio aimed at reducing our reliance on imports, with a sustainability-focused approach aligned with the energy transition and fulfillment of international climate commitments," he added.
The Minem chief emphasized that the signing of these contracts confirms that Peru offers competitive conditions, strong institutions, and a responsible investment framework capable of supporting companies throughout every stage of project development.
"We are moving toward a modern, secure, and sustainable energy sector, and we will continue working to build a country of opportunities for future generations," Montero concluded.