Peruvian Hydrocarbons Society (SPH) Chairman Felipe Cantuarias noted the oil pipeline in Northern Peru is of strategic importance to secure the country’s fuel self-supply, since oil potential is located in the Amazon rainforest.
“Peruvian oil blocks’ potential is contained in the Amazon rainforest and, consequently, the oil pipeline is crucial for that,” he underlined.
Several blocks held by Petroamazonas —Ecuador’s state-owned oil company located in the border with Peru— might use this oil pipeline to transport fuels.
“This way, the pipeline turns into a strategic infrastructure for fuel self-supply in Peru. That is why we welcome the [Government’s] decision to speed up its upgrading process and operational start-up,” he pointed out.
In December last year, the Executive enacted and published Legislative Decree 1292, under special powers granted by Congress, to declare the public need and national interest of operating the pipeline. It also endorsed the reshuffle of Petroperu.
SPH advocates a reform of the hydrocarbons policy to secure the self-supply of fuels, since the current national production brings up 35,000 barrels a day, compared to the 180,000 consumed.
“Our target is 200,000 barrels a day. We believe Peru is going to increase the consumption level; besides, the country would be self-sufficient in terms of fuels if we had a good hydrocarbons policy,” he said.
(END) MMG/MDV/RMB
Published: 1/11/2017