Oil operation located in Loreto does not produce as a result of the controversy between both companies.
The International Court of Arbitration of the International Chamber of Commerce determined that Perupetro lost arbitration against Pluspetrol North and its partners regarding the future of Lot 8 (Loreto).
It is worth noting that months ago the private law state firm that oversees hydrocarbon contracts in the country went to a foreign court to define the validity of the Lot 8 contract, since Pluspetrol Norte sought to dissolve and begin its liquidation process.
The award — to which La República agreed —, among other points, annuls the precautionary measure ordering Pluspetrol Norte to suspend its liquidation process and rejects that the license agreement maintain its validity and effects, except to what regarding post-contractual rights and obligations.
Block 8 has not extracted oil since April 2020 and 34,700 barrels have been detained in its pipeline, added to 164,500 barrels that remain in tanks ready for sale.
Source: Larepublica
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