Over the weekend, the Peruvian government announced several
new developments in the lengthy controversy over the country’s most productive
oil field, Lot 192. First, the government reached
an agreement
with local indigenous protestors who had seized the oil field demanding
environmental cleanup and compensation.
The oil field was shut down for 13 days, resulting in losses
of more than $4 million. The federal government’s negotiators, led by Housing
Minister Milton von Hesse promised to invest 134 million Peruvian soles in
projects during the next 2 years. Local leaders in the area are already calling
on regional and municipal leaders to make similar contributions. The health
ministry also agreed to do an epidemiological study on the region, and the
Energy and Mines Ministry committed to bringing electricity to more parts of
the region.
Also on Friday the office of Peruvian President Ollanta
Humala finally released
its response to the Peruvian Congress’ bill that sought to award the operation
of Lot 192 to the Peruvian state oil company Petro-Perú. The oil industry had
been eagerly awaiting the executive’s announcement to learn what would happen to
Lot 192.
President Humala decided to observe the law, but he also
suggested a few modifications:
having the law go into effect after the country’s contract with Lot 192’s
current operator Pacific Stratus Energy expires in two years, changing the
award of the contract directly to Petro-Perú to allowing Petro-Perú to
participate in the bidding process, and adding language that ensures the
operation of Lot 192 does not affect Petro-Perú’s obligations to the Talara
refinery.
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