"Recovery of investments in hydrocarbons in Peru generates optimism for 2024."

Investment in the Peruvian hydrocarbon sector shows signs of recovery after a period of contraction. According to the latest report from the Ministry of Economy and Finance (MEF), a growth of 21.7% in this sector is expected by the end of 2024, surpassing the 4% decline recorded the previous year. This rebound represents the highest growth rate in hydrocarbons since 2021, generating optimism among analysts and stakeholders involved in the industry. During the first half of 2024, the figures are encouraging, with a 58.3% increase in investments, reaching 240.4 million dollars. This increase is primarily due to investment in well exploitation, particularly in blocks 56, 95, and 192, where significant improvements have been made in production and drilling of new wells. Projections indicate that this upward trend will continue in the second half of 2024 and into 2025, according to Perupetro. Among the highlighted initiatives, PetroTal has announced an investment of over 107 million dollars, focusing on the drilling and operation of three new horizontal wells. Additionally, Block 95, one of the key areas for hydrocarbon exploitation, will see an expansion of its infrastructure, contributing to an increase in production and attracting more investments. On the other hand, the natural gas sector also anticipates significant growth. Olympic Perú Inc. has projected an investment of 776 million dollars over a span of 12 years, aimed at drilling new wells and implementing facilities in Piura. This investment is contingent upon the approval of its Environmental Impact Study Modification by the National Service of Environmental Certification for Sustainable Investments (Senace). The reactivation of operations in Block 8 is also a notable development. Upland Oil And Gas has received a temporary license contract that will allow it to restart activities in this area. An investment of 54 million dollars is expected to reactivate 55 wells between 2024 and 2025, representing another boost to investment in the sector. The expansion of gas distribution infrastructure will be another vital component in the recovery of the hydrocarbon sector. Promigas Perú has presented an investment plan of 50 million dollars for 2024, aiming to continue the massification of gas in the northern part of the country. This is essential to improve access and competitiveness in the region. Cálidda, for its part, plans to invest 100 million dollars in the expansion of natural gas distribution in Lima and Callao during 2024. Additionally, the company has an ambitious additional plan of 500 million dollars for the period 2025-2029, which seeks to bring natural gas to seven more regions of the country, including Cusco, Ayacucho, and Puno, significantly expanding the coverage of this energy resource. It is important to highlight that growth in the hydrocarbon sector not only has economic implications but can also influence social development and job creation in the regions where these investments take place. The creation of new jobs and the increase in productive activities are collateral benefits that are expected. However, the recovery of the sector also faces challenges. Perupetro has indicated changes to the regulations for qualifying oil companies, which could affect the investment climate if not managed properly. Additionally, the need for a greater network of natural gas pipelines is essential to boost the country's competitiveness and ensure that these investments translate into tangible results for the local economy. In conclusion, the recovery of investment in hydrocarbons in Peru appears to be underway, driven by a series of significant projects that promise to revitalize the sector. If the projections are met, the country could be on the brink of a new phase of growth in this area, which could bring economic development and opportunities for many communities.