The Executive Branch approved the amendment of the license contracts for the exploration and exploitation of hydrocarbons in Blocks Z-61, Z-62, and Z-63, in the Continental Shelf, to include U.S. company Chevron —one of the largest in the world— as an investor in Peru's energy sector.
The government official reported indications of a new oil and gas field off the coasts of La Libertad and Lambayeque regions, as well as Chevron's interest in participating in this exploratory project.
The
Ministry of Energy and Mines (Minem) stressed
that Chevron's arrival confirms the confidence Peru inspires for the development of major energy projects, as well as reaffirms the South American country's potential to tap into new oil and natural gas reserves.
Anadarko —responsible for exploration in Blocks Z-61, Z-62, and Z-63 since 2017— announced in 2024 the transfer of 35% of its stake in the license contracts to Chevron Peru Exploration Limited, thus marking the company's entry into the project.
Perupetro's board approved the amendment of the license contracts for the exploration and exploitation of hydrocarbons, incorporating Chevron and Westlawn Peru SAC as new partners.
Likewise, it requested that Minem initiate the process for the issuance of the corresponding Supreme Decrees.
After the corresponding technical and legal review, three decrees were issued. The documents were endorsed by President Dina Boluarte, along with Ministers Jorge Montero (Energy-Mines) and Raul Perez Reyes (Economy-Finance).
For Minem, Chevron's entry is a sign of the confidence Peru inspires to attract large-scale investments and the country's energy potential to develop new hydrocarbon reserves.