The president of Perupetro, Isabel Tafur, ensures that the direct negotiation with Petroperú for blocks I, VI and Z-69 of Talara conforms to the current qualification regulations and guarantees that the state company meets the minimum investment requirements for its operation. In addition, she anticipates that the decree for the reversal will be ready this month.
-What follows after the positive qualification to Petroperú?
-The parties negotiate a text for the decree, which then goes to the Perupetro board of directors. In turn, it is sent to the Minem, where it is seen by the Directorate of Legal Advice and the General Directorate of Hydrocarbons, with the Minister and Vice Minister of Hydrocarbons for the signature. Then it goes to the Ministry of Economy and Finance (MEF), where it is seen by the General Directorate of Macroeconomic Policy, in addition to the legal one, for the signature of the Vice Minister of Economy and the minister. Finally, it goes to the Government Palace for the president’s signature.
-When will that happen?
-As a rule, the entire process should last a maximum of 60 days. But, since the contracts are about to expire, we think that the decree should be issued, more or less, on the 24th of this month, and the signature would take place between the 27th and 28th, in the best of cases.
-Did Petroperú qualify?
-We qualify the assets of the company to see if it has financial backs. We strictly apply the regulation to cover the activities in one lot or another. The calculations have been done and your net worth does cover the required investment. But, if Petroperú, like any other oil company, does not meet the commitments, it has a guarantee (bond letter) that guarantees the execution of all the clauses.
-Recently there was a meeting with President Boluarte. Does she approve of the reversal?
-The president has stated in various media that Petroperú must return to the upstream. We have a lot of neighboring countries and they all have national oil companies that carry out exploration and exploitation activities. Petroperú has worked on these lots before and now it is obviously the most indicated to continue exploiting them.
-The Ministry of Economy was in favor?
-Yeah. They have asked us for information that we have already reached.
clear regulations
-A sector has criticized the legal framework of the negotiation.
-Article 60 of the Constitution is invoked, that only by law the State can carry out business activity in a subsidiary or complementary manner, and that there must be an express or elevated public interest. Well, Petroperú has been created by Law 17753 and in the considering part it says that the purpose of the company is to be closely linked to the supply of fuels at the national level. In fact, it is already recognizing that it is a company with a subsidiary role, since it reaches places where no one else does. But a norm that they do not invoke is article 66 of the Constitution, on which the State is sovereign and can dispose of its resources in the best possible way.
-Is Law 30130 fulfilled?
-Regarding Law 30130, Petroperú does not violate any of the three conditions for the development of its investments: not generating firm or contingent liabilities (present or future), not affecting guarantees in the modernization of the New Talara Refinery, and not demanding resources to the Public Treasury. On the contrary, they are batches in production, they will have an immediate flow.
-And about the lack of partner?
-When they say that Petroperú should go with a partner, Legislative Decree 1292 talks about exploitation and exploration contracts. In this case, they are exploitative. Some activity will be considered to replenish reserves, but only there should you go with a partner. The rule is clear from the title.
– Does the process affect free competition, as indicated?
-The Law on the repression of anti-competitive conducts refers to those agents who provide services or sell goods. Perupetro is a State agency that has granting power granted by the Organic Law of Hydrocarbons (LOH), it does not provide services or sell goods. Nor can it be said that we affect the competition. We have made processes for lots V, VII and 8, and configured 31 areas for contracts where any private investor can come and invest. I don’t see why instead of these reviews they don’t reach out and show interest in them.
-And in terms of royalties and initial investments?
-All investments and royalties will be included in the contract. Petroperú is treated like any other investor, and Perupetro is not making any other distinction. The initial amount has not yet been calculated, but we are working to make it the best and ensure the continuity of operations.
-They also criticize that it was given “in record time.”
-No, months ago we had started the talks. There are qualifications that have been done in less than two days. Previously, Petroperú had been qualified —no one takes it into account— for Block 192. For Block I, under a temporary contract, it had also been qualified in one day because that precedent existed. The only thing missing was the audited Financial Statements of Petroperú to see the net worth.
-The 2022 Financial Statements were presented. Would they affect the process?
-No. Equity is assets minus liabilities. The regulation speaks of the assets and investments committed in other lots, and the patrimony that it has in lots I and 192 supports it.
-When will the reversal process of Lot X begin?
-There is still a way to go. We must start citizen participation in September and we are planning to do so.
Source: Larepublica
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