Peru postpones Camisea tender, again

Peru has again postponed the date for the auction of gas and liquids transport and distribution concessions for its world-class Camisea natural gas fields. It is evaluating a new date with potential bidders.


LIMA�Peru has again postponed the date for the auction of gas and liquids transport and distribution concessions for its world-class Camisea natural gas fields. It is evaluating a new date with potential bidders.

Energy and Mines Minister Jorge Chamot earlier this month confirmed that the auction would be held June 22 despite political uncertainties after the Apr. 9 and May 28 presidential elections. The subsequent postponement followed visits by Chamot to Canada and the US to speak to potential investors, including Enron Corp.

The consortium that has so far shown the most interest is composed of Argentina's Techint SA and Japan's Mitsui & Co. Ltd., with Spain's Gas Natural Group and Algeria's Sonatrach as likely partners.

The tender for the contract to exploit the Camisea fields was won Feb. 16 by a consortium of Argentina's Pluspetrol Resources Corp., 40%; US firm Hunt Oil Co., 40%; and South Korea's SK Corp., 20%. The companies, however, cannot sign a contract to go ahead with the project until the concessions for processing and pipeline installations are signed.

Total investment is estimated at $2.6 billion.

More in Home