All Product
Industry Information

Introduction of Slip-on Flange Forging Methods
This technical article introduces us about some main forging methods of slip-on flanges according to the movement of the forging die.

How to Correctly Select Flange
This technical article introduces us in details about that some main ways and methods that we can choose and select flanges correctly.

Thin-walled SS Tube Is Increasingly Widely Used
With the implementation of reform and opening policy and the development of economy, thin-walled stainless steel tubes are more and more popular.

Venezuela's Manufacturer Will Set Up Factories in Cuba
The company is evaluating the factory of the pipeline construction project, thus it is going to set up factories in Cuba.

NDRC: Increase Gas Imports and Oil Reserves in Winter
The National Development and Reform Commission decided to increase gas imports and oil reserves in this winter in the meeting held on November 13.

Home » News » Peru Oil Output Is Expected to Grow 10% This Year

Peru Oil Output Is Expected to Grow 10% This Year

author: Jeawin   time: 2014-09-18 15:43   hits: 1444

La Sociedad Nacional de Minería, Petróleo y Energía (SNMPE), namely Peru National Mining Oil and Energy Association said recently that Peru oil and gas industry investment was in a standstill state. The association which published figures pointed out that the number of Peru operation of oil and gas contract is 71 which is lower than 87 in 2009. 


In recent five years, more than 23 blocks were returned by enterprises and 40% of the existing projects were affected by force majeure. In 2013, only seven wells were dug. A recent exploration contract was signed in 2010. The association said that oil production growth was expected to reach 10% this year for three projects were put into production, but these projects bids were awarded before 12 years or 20 years ago, and it yielded results until today. 


A report of the association said that Peru oil and gas area investment was paralyzed at present as it has not yet introduced laws and regulations to guide business behaviors in this field. At the same time, under the current legal framework, it also did not shorten the time needed for project examination and approval. 
 

So far, the new environmental regulations have not been passed in the past 14 months. The association said that it brought a lot of complicated and uncertain factors, and the delay would seriously affect the foreign investment. SNMPE pointed out that they did not want to request to broaden the environmental protection standard. Instead, they proposed that the government could introduce flexible and modern rules of technical support so as to promote and improve the standard monitoring.


Peru Oil Output Is Expected to Grow 10% This Year