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🇵🇾 Paraguay /Economy & Trade

Peru’s hydrocarbons association calls for exploration investment after 99% decline in 13 years

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Named sources New plan
  • The Peruvian Hydrocarbons Society said exploration investment fell 99%, from $946.7 million in 2012 to $9.8 million in 2025.
  • The group urged regulatory changes to accelerate exploration, production and storage projects while maintaining environmental and social standards.
  • It said Peru needs to replenish reserves and develop infrastructure, natural gas distribution and petrochemicals.

Investment in oil and gas exploration in Peru collapsed from $946.7 million in 2012 to just $9.8 million in 2025, according to the Peruvian Hydrocarbons Society. The industry group warned that the 99% decline is limiting the country’s ability to discover and develop new reserves.

The SPH said the drop also threatens Peru’s capacity to sustain hydrocarbons production over the long term. It issued the warning as Congress is expected to grant legislative powers to the government of President Keiko Fujimori.

The group called for an agile, predictable and efficient regulatory environment. It said proposed measures would promote private investment in exploration, production and storage, improve contract mechanisms and simplify administrative procedures across the hydrocarbons value chain, including petrochemicals.

The legislative powers represent a real opportunity to create better conditions for the development of the sector. We need to facilitate exploration and production, establish more efficient contract mechanisms and remove obstacles that currently delay projects.

· Felipe CantuariasThe president of the Peruvian Hydrocarbons Society described the legislative proposals under consideration.

“The legislative powers represent a real opportunity to create better conditions for the development of the sector. We need to facilitate exploration and production, establish more efficient contract mechanisms and remove obstacles that currently delay projects,” SPH President Felipe Cantuarias said.

The association also urged a broader approach covering infrastructure, the royalties regime, wider access to natural gas and higher-value activities such as petrochemicals. It said petrochemical development could help industrialize hydrocarbons resources, attract investment and create productive chains and specialized jobs. “More efficient regulation and an integrated vision of the value chain can help turn our resources into greater development and opportunities for the country,” Cantuarias said.

More efficient regulation and an integrated vision of the value chain can help turn our resources into greater development and opportunities for the country.

· Felipe CantuariasCantuarias outlined the potential benefits of reforms and broader hydrocarbons development.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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