The Energy and Mines Commission of Congress rescheduled for its session on Tuesday, October 17, 2023, bills 804/2021-CR and 2279/2021-CR, which seek to retroactively extend the country’s current oil contracts for 10 years more, and even give operators the possibility of staying until resources are exhausted.
PL 804/2021-CR by Congressman Carlos Enrique Alva Rojas sought to modify articles of the Organic Hydrocarbons Law (Law 26221) to extend current oil contracts and allow companies to renew their papers until there are no more resources left.
Meanwhile, PL 2279/2021-CR by Congressman José Enrique Jerí Oré seeks to standardize oil contracts with gas contracts so that they range from 30 to 40 years, which directly benefits the operators who have the concession of the lots of Talara, close to death.
Precisely, the contracts with the Chinese company CNPC on Lot X, the largest in the northwest basin (70% of Talareño oil), expire in May 2024.
The opinion of both projects, returned from the Plenary at the time for a new debate in committees, was introduced to the Energy and Mines working group yesterday afternoon, according to sources consulted. However, article 54 of the Congress regulations indicates that the call and presentation of documents is given 24 hours in advance.
Lots V and VII have already been reprivatized by the Peruvian Government a few months ago. At the same time, the initial proposal to revert lots I, VI and Z-2B to the Peruvian State through Petroperú was discarded and now the oil company will only manage them temporarily for two years.
It should be noted that Petroperú is the only buyer of oil in Talara. Currently, it pays international prices that are around US$90 per barrel for national oil to cover 30% of the diet of its new Refinery.
Source: Larepublica
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