Peru prepares initiatives to boost the Hydrocarbons Sector

This Minem release was published using machine translation.

The Ministry of Energy and Mines (Minem) has been preparing a series of normative proposals that will allow increasing investments in the Hydrocarbons sector, contributing to economic reactivation and generating more income in canon and royalties for the regions, announced Minister Miguel Incháustegui Zeballos.

He explained that among these initiatives is the project to amend the Organic Hydrocarbons Law, which seeks to adapt current legislation to the dynamism and standards of current markets, in order to achieve the objectives of universal access to energy and self-sufficiency in the production established by the National Energy Policy 2010-2040.

Incháustegui said that other initiatives that the sector is working on are the draft of the New Regulation of Hydrocarbon Exploration and Exploitation Activities, which will allow modernizing hydrocarbon activities, applying technological advances, regulating offshore operations and simplifying procedures. .

"This will allow us to achieve efficient hydrocarbon production in safe conditions for people, facilities and the environment, with a high degree of social responsibility in the respective areas of influence," the minister said.

Likewise, he indicated that the project for a new Stakeholder Qualification Regulation for the Carrying out of Hydrocarbon Exploration and Exploitation Activities is underway, which will help to guarantee a transparent and expeditious process for the negotiation and signing of new license or services.

Finally, he announced the proposal for a new Regulation for the Application of the Royalty and Remuneration, aimed mainly at new license and service contracts, which seeks to provide a competitive scheme to encourage industry in the country.