Qatar Energy scoping Peru hydrocarbon opportunities

Peru's oil and natural gas resources have drawn the attention of Qatar authorities and state-owned Qatar Energy, which already has a presence in South America.

The news of the potential participation followed a meeting between Peru's energy and mines minister Jorge Montero Cornejo, Qatar’s minister of state for energy affairs Saad bin Sherida Al Kaabi, and Qatar Energy executive Jassim Mohd Hussain Ahmad Al-Marzouqi.

Montero highlighted Chevron's entry into offshore blocks Z-61, Z-62 and Z-63, and TotalEnergies' participation in technical evaluation agreements for offshore acreage.

The minister also pointed to gas industrialization, such as the development of a petrochemical industry to produce fertilizers.

In other sector developments, Peru's central bank lowered its 2025 GDP growth forecast for the hydrocarbons sector to 3.5% from 4% due to lower performance at gas blocks.

Meanwhile, the 2026 growth outlook rose to 3.8% from 3.6%.

And PetroTal reported that technical issues have impacted production at block 95, Peru's principal oil producer.

The company said it is moving a service rig to the block, with shut-in wells expected to return to production in mid-November.

PetroTal added that the impact of curtailments on 2025 annual output is expected to be below 1,000b/d and that, as a result, there is no change to production guidance of 20,000-21,000b/d at this time.

(The original version of this content was written in English)