BPZ and Shell will invest U.S. $ 750 million in next four years in Peru
Wednesday, 09 July 2008 10:19 Time Peru
24horaslibre.com
BPZ and Shell will invest U.S. $ 750 million in next four years in Peru
The chairman of BPZ Energy, Manuel Zuniga, reported today that over the next four years will invest jointly with the angloholandesa Shell $ 750 million in oil and gas exploration in Tumbes and Piura, and the installation of a 150-megawatt thermoelectric plant (MW).
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He pointed out that of that amount, angloholandesa provide $ 300 million for exploration of gas in three lots located in Tumbes.
While BPZ will invest 300 million dollars for exploration of oil in Piura and Tumbes and 150 million for the launch of its thermoelectric plant to natural gas.
He felt that the plant would start operations in early 2010 to supply the domestic market, but there is also the possibility of exporting electricity to Ecuador.
"The Peruvian electricity market is very efficient and demand is growing very fast, basically we will supply the local market but do not rule out the possibility of selling to Ecuador because there is an interconnection agreement with that country," he said.
He said that the plant at an early stage will have a capacity of 150 MW, but then expect to duplicate such power in a second phase.
Zuniga said that this alliance with Shell, which will be implemented over the next three months, not necessarily to facilities funding for BPZ for any oil company currently has access to loans.
"Rather this alliance seeks to gain access to technological equipment with which Shell," said a TV Peru. |
