Minem approves modification of the contract for the exploitation of hydrocarbons in Block 31-C

The Ministry of Energy and Mines (Minem) authorized the modification of the contract for the exploitation of hydrocarbons in Block 31-C, which is located in the city of Pucallpa, province of Coronel Portillo, Ucayali.

Thus, in accordance with Supreme Decree No. 001-2023-EM, the substitution as corporate guarantor in the Orazul Energy Peru contract was approved. by Orazul Energy Group II.

It should be noted that the modification of the license contract for the exploitation of hydrocarbons in Block 31-C was authorized by Supreme Decree No. 021-94-EM. Subsequently, it was modified by provisions No. 026-96-EM, No. 021-99-EM, No. 036-2001-EM and No. 014-2020-EM.

Likewise, Perupetro is allowed to sign with the company Aguaytía Energy the modification of the license contract for the exploitation of hydrocarbons in Block 31-C.

Background

On March 30, 1994, through Supreme Decree No. 21-94-EM, Perupetro and The Maple Gas Corporation of Peru, Peruvian Branch, entered into a license agreement for the exploitation of hydrocarbons. Along these lines, on July 16, 1996, the modification was approved with the objective of reflecting the assignment of contractual position of 99% participation of The Maple Gas Corporation of Peru, Peruvian Branch in favor of Aguaytía Energy of Peru.

Later, on June 15, 1999, through Supreme Decree No. 021-99-EM, the modification of the contract was approved in order to reflect the assignment of a 1% contractual position by The Maple Gas Corporation del Perú, Peruvian branch, in favor of Aguaytía Energy del Perú.