Background on Petroperú and ProInversión
Petroperú, a Peruvian state-owned oil company, and ProInversión, an agency under the Ministry of Economy and Finance responsible for promoting and attracting private investments, have signed an agreement to conduct a study for the sale of Petroperú’s assets.
Who are Petroperú and ProInversión?
Petroperú is a Peruvian government-owned company responsible for the exploration, production, transportation, and marketing of oil and gas. It plays a crucial role in ensuring energy security for the country.
ProInversión, on the other hand, is an agency that facilitates public-private partnerships (PPPs) and promotes investment in infrastructure projects. It ensures that these projects comply with legal, financial, and technical standards.
Details of the Agreement
Under the Decree No. 013-2024, ProInversión will be responsible for diagnosing, designing, and executing promotion processes to sell, dispose of, or manage Petroperú’s assets through Public-Private Partnerships (APP) and Project Assets (PA), excluding critical national assets and those necessary for operation.
Petroperú can submit an additional list of assets, subject to board approval, which will be incorporated into the agreement without signing an addendum.
Quotes from Key Figures
Alejandro Narváez, President of Petroperú: “We are working to optimize resources, profits, and reduce costs. We also aim to collaborate with ProInversión in the process of divesting these public assets.”
Luis del Carpio, Head of ProInversión: “We intend to carry out this assignment with full coordination, honesty, and transparency, recognizing that these are assets of an important company for the country.”
Impact on Petroperú and the Peruvian Economy
This agreement signifies Petroperú’s commitment to streamlining its operations, enhancing profitability, and minimizing expenses. By partnering with ProInversión, Petroperú aims to efficiently manage its non-critical assets, potentially attracting private investments and fostering economic growth.
The sale of these assets could lead to improved financial performance for Petroperú, allowing the company to focus on core activities and maintain its strategic position in the energy sector.
Moreover, this collaboration could stimulate private investment in Peru’s oil and gas industry, contributing to the country’s economic development and energy security.
Key Questions and Answers
- What is the purpose of this agreement? The main objective is to optimize Petroperú’s resources, profits, and reduce expenses by selling non-critical assets through public-private partnerships (APP) and project assets (PA).
- Which assets are excluded from the sale? Critical national assets and those necessary for Petroperú’s operation are excluded from the sale.
- What role does ProInversión play in this process? ProInversión will diagnose, design, and execute promotion processes for the sale of Petroperú’s assets, ensuring transparency and adherence to legal and financial standards.
- How will this agreement impact Petroperú and the Peruvian economy? This collaboration could lead to improved financial performance for Petroperú, stimulate private investment in the oil and gas sector, and contribute to Peru’s economic development and energy security.
