Peru’s history as an oil producer goes back to the late 19th century, when it drilled its first well in the north of the country more than 150 years ago. Peru has significant hydrocarbon potential areas for development, specifically in Marañon, Ucayali and offshore basins.

Because of Peru’s great potential in oil and natural gas, the country formed Perupetro in the early ‘90s in order to sustainably manage this valuable resource and attract outside investment for its exploration activities and oversee third-party contractors.

“Peru has enormous potential. We have 18 hydrocarbon basins and only five are under development. We understand that the challenge is not underground but on the surface; that’s why Perupetro seeks the sustainable development of communities, respect for the environment and the harmonious coexistence with other activities, such as fishery and agriculture,” CEO Daniel Hokama said.

Embracing the Japanese concept of isshokenmei — devotion to the proper completion of a task —  Perupetro has spent more than 25 years paving the way for the sustainable development of the country’s energy sector and infrastructure by securing foreign investment.

“We have a competitive legal framework and amazing natural resources. There are so many opportunities to develop here, especially offshore. We welcome new partners from Asia. Their knowledge and prowess in technology could make the difference in helping our hydrocarbon sector grow to achieve its fullest potential in the years to come,” Hokama said.