He Ministry of Energy and Mines (Minem) This Sunday, it authorized the state agency Perupetro to sign the exploitation contract in Lot V of Talara with the GTG Petroleum & Corporación del Sur Consortium – Peru Branch.
Through supreme decree 020-2023-EM, the Peruvian Government approves the formation, extension, delimitation and nomenclature of the initial area of the deposit, “declaring it a subject for contract signing.”
The License Contract for the Exploitation of Hydrocarbons in Lot V consists of 1 preliminary clause, 25 clauses and 11 annexes, to be held between the agency led by lawyer Isabel Tafur and GTG Petroleum & Corporación del Sur.
The new agreement will be concluded with the intervention of the Central Reserve Bank (BCRP)in order to guarantee the contractor what is established in articles 63 and 66 of the Organic Hydrocarbons Law.
These articles indicate that the Peruvian State must ensure that the exchange and tax regimes in force on the date a hydrocarbon contract is signed will remain unchanged during its validity. BCRP is obliged to guarantee the availability of foreign currency.
Lot V of Talara, which was operated by the Unna Energía company until October 5, has an average production of 90 barrels of oil per day (bop).
GTG is a Peruvian company with English capital associated with Monterrico Oil Company through exploration, characterization and development activities of oil and gas fields in the Talara basin. Currently, it is located in lots II, XV and XX.
The document bears the signature of the President of the Republic, Dina Boluarte, as well as the Ministers of Economy and Finance, Alex Contreras, and of Energy and Mines, Oscar Vera Gargurevich.
Source: Larepublica
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