Peru struggles to maintain crude production
Revival of Peru's moribund oil and gas industry in the 1990s hinges on whether the new administration of President Alberto Fujimori is successful in attracting foreign investment in Peru. Fujimori's success would mean Peru pushing ahead into stepped up exploration and major development projects, such as the huge Camisea gas/condensate field discovered 2 years ago. His failure could mean Peru continuing to fall further behind in its already lagging low oil production. Huge sums of money will be needed. Peru also needs to succeed in its efforts to become creditworthy again for international agencies, foreign governments, and commercial banks. Meanwhile, Petroleos del Peru SA (Petroperu), the state oil company, will have to transfer an increasing share of its operations to private investors. But the company is likely to try to hold onto producing fields, even though it is unable to maintain full output.
- OSTI ID:
- 5514894
- Journal Information:
- Oil and Gas Journal; (USA), Vol. 89:2; ISSN 0030-1388
- Country of Publication:
- United States
- Language:
- English
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