“Investment Opportunities in Hydrocarbons and Production in Peru” "PERU New Bidding Round 2008 - Opportunities in Frontier Areas" Ronald Egúsquiza Manager for Promotion and Social Affairs 2008
Peru is located in a strategic location in the South American. It is becoming a "regional hub" in the South American Pacific Area. With more than 2, 000 km shore in front the Pacif Ocean
Peru 84 E&P Contracts Coalbed Methane 19 Exploitation 65 Exploration 06 TEA Diesel from Bitumen
Peru 84 E&P Contracts 19 Exploitation Heavy Oil Modernization Talara Ref. LNG Project 65 Exploration Petrochemical Industry
New Opportunities in E&P License Contracts Ø Contract Stability Ø Competitive Royalties Ø Flexible work programs Ø Huge Natural Gas Potential Ø Heavy and Light Oil discoveries Perupetro S. A. : In process to launch 2008 Bidding Round in Peru Open acreage for E&P License Contract
Stability: Macroeconomics Sustained economic growth with average annual forecast greater than 7% for 2006 – 2010* Peru 8, 9 8 7, 6 GDP Growth (Annual variation %) 6, 4 6 5, 2 3, 9 4 Developed 2 World 0 80 82 84 86 88 90 92 94 96 98 00 02 04 06 07* (*)Forecasted by Central Reserve Bank of Peru and the Ministry of Economy and Finance. Source: International Monetary Fund and the Central Reserve Bank of Peru.
Sustained lower country risk compared with Latinamerica average risk index Updated October, 20 th 2007 Source: Bloomberg
Dec 31, 2003: 27 (12 Ex, 15 Prod. )
Actions already taken to improve exploration in Peru Three lines of action: • Improved technical information accessibility. • Enhanced economic incentives for contracting. Let the market fix new level of royalties for the State. • Improved contract model allowing shorter period of negotiations. PERUPETRO S. A.
STABILITY OF CONTRACTS IS BASED ON: ü Contract approved by Presidential Decree – same level as a Congress Law - “Contract–Law”. ü ü Contract signed by Peru-Petro S. A. as a “Sociedad Anonima” follows corporate rules So this Contract is signed “Enterprise to enterprise”. International Arbitration is part of the Contract – there is a specific Clause for this. ü Present Government – Took Political Decision not to modifiy the current Hydrocarbons Contract Model. PERUPETRO S. A. DEC- 2007
Peru’s Signed Contracts 2000 1 2004 6 2001 4 2005 15 2002 2 2006 16 2003 2 2007 24 2008 ?
Dec 31, 2004 31 (14 Ex, 17 Prod. ) August, 2007, 64 (45 Ex, 19 Prod) PERUPETRO S. A. DEC, 2007
2007 Bidding Round in Peru August, 2007, 64 (45 Ex, 19 Prod) From 19 Blocks offered, 14 Blocks were signed PERUPETRO S. A. DEC, 2007
Dec, 2007, 84 (65 Ex, 19 Prod) Peru offers: Open areas Competitive Contract Royalty scheme Information Free of cost Bidding Round Recent discoveries of Natural Gas and Heavy and Light Oil PERUPETRO S. A. SEPT, 2007
HC PRODUCTION PERU LIQUIDS NEAR 120, 000 BOPD OIL CONDENSATES
HC PRODUCTION PERU GAS 255 MMCFD
Cuenca Maranón Cuenca Lima Cuenca Pisco Cuenca Titicaca Cuenca Huallaga Cuenca Ucayali
Yellow Areas represent OPEN ACREAGE in Sedimentary Basins • Open for License Contracts • Perupetro is studying this areas for a next process Presentations • • • MARANON BASIN HUALLAGA BASIN UCAYALI LIMA & PISCO BASINS TITICACA BASIN
PROPOSAL EVALUATION BIDDING ROUND FINAL SCORE = TECHNICAL PROPOSAL SCORE + ECONOMIC PROPOSAL SCORE + GROSS REVENUES INDEX Information about OPEN ACREAGE can be requested as from now. Once Bidding started, Package of Specific Blocks will be produced and delivered to applicants as a part of the Bidding Process.
PROPOSAL EVALUATION FINAL SCORE = TECHNICAL PROPOSAL SCORE + ECONOMIC PROPOSAL SCORE + GROSS REVENUES INDEX Application Letter FAIL PASS Documents for qualifications required by law FAIL PROPOSAL (Two sealed envelopes) ENVELOPE N° 1 TECHNICAL PROPOSAL PASS Two sealed envelopes: Technical proposal (envelope N° 1) and Economic Proposal (envelope N° 2). ENVELOPE N° 2 ECONOMIC PROPOSAL
You are welcomed to join us to our Peruvian Session at Canning House, 2 Belgrave Square, London SW 1 X 8 PJ Today at 06: 30 pm THANK YOU ALL VERY MUCH Ronald Egúsquiza ronald. egusquiza@perupetro. com. pe PERUPETRO S. A. Luis Aldana 320 – San Borja Tlf. 6171800 – Fax. 6171801
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