Petroperu plans upgrade for Talara refinery

By an OGJ correspondent
LIMA, May 5 -- Peru state oil company Petroleos del Peru SA (Petroperu) expects to hold an international tender during the second half of the year or in first quarter 2004 to upgrade its 62,000 b/d north coast Talara refinery, according to Petroperu president Hector Taco.

The refinery also needs to meet the fuel standards recommended by the World Bank for South American countries before 2005. In addition, Petroperu needs to compete start-up of the Camisea natural gas project, scheduled to come on stream in August 2004.

Although a final decision has not been reached on the refinery upgrade, the current target is for Petroperu to seek private investment through a tender for a joint venture, a management contract, or a concession.

The study, completed at the end of last year by US firm Foster Wheeler Ltd., is being evaluated by Petroperu's engineering division, before presentation to the energy and finance ministries and ProInvestment, the state agency for the promotion of private and public investment.

Petroperu pegs the cost of the project at about $250 million.

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