Energy and Mines Ministry (MEM) on Monday said Peru's hydrocarbon projects portfolio amounts to US$12 billion by 2022, and that the State must make sure investments are implemented within the time limit.
Speaking at the opening of "Peru Energy 2018: Technology and changes for a strategic sector," the sector's Head Francisco Ismodes said the Government is working on a different framework to
bring authorities closer to the population.
According to the cabinet member, "the current situation is the result of domestic and external factors such as the drop in oil prices, the suspension of operations, an old-fashioned organic hydrocarbon law, and socio-environmental issues that have obstructed projects contained in the portfolio."
Peru's Energy and Mines Minister acknowledged that one of his main goals is to update the hydrocarbon regulation and put it together with a much more dynamic scenario like the current one, referring to the amendments in the Organic Hydrocarbon Law to be discussed at Congress.
With respect to the North Peruvian Oil Pipeline, Ismodes noted the improvement of this infrastructure cannot be put off.
Despite all the drawbacks —he added— locals have faith and believe in the activity. In fact, it enjoys their support. However, the population requires changes and improvements in the oil pipeline.
Electricity
MEM's portfolio contains 11 energy projects —between transmission lines and sub-stations— amounting to US$527 million combined.
All in all, Ismodes' priority is to close the energy service gap in rural areas, considering around 420,000 Peruvian families have no access to this basic service.
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Published: 6/11/2018