Oil & Gas Investment Guide 2019/2020

The Oil & Gas industry has an enormous potential in the country. According to the National Oil & Gas Agency (Perupetro), it´s expected to the year 2023, Peru would have the potential and reserves to produce more than 100 thousand barrels per day (bpd) of oil across the country, including both onshore and offshore blocks.

Synergies created between production from the Camisea Project and other industries (transport, mining, industrial, among others), have also contributed to an increase in this potential.

Moreover, the increasing demand of electricity in Peru during the last twenty years due to the development of mining and industrial projects, and the growth of its main cities, has also served to better position primary fossil fuels such as oil & gas in the country’s energy structure. However, this situation is going to evolve in the coming years. 

The 2014-2025 National Energy Plan highlighted the need to diversify the sources of electricity production due to trends of investment in clean energy in the global market.

In this context, this oil & gas investment guide is structured to help investors broadly evaluate Peru’s oil & gas sector investment conditions and provide them a general updated landscape of the industry. In that sense, we have included various aspects usually taken into consideration by investors from around the world before making critical decisions on the development of new oil & gas operations.

Regarding the oil & gas and electrical market, we have included a description of the regulatory terms and applicable fiscal regime, considering major government taxes, royalties and other similar levies, as well as an overview of the customs, labor, environmental, climate change, citizen participation and prior consultation, anti-corruption and accounting regulations that should also be taken into account when starting a business and developing activities in Peru connected with these markets.