Camisea needs to be made more attractive

Jun 25, 1999 02:00 AM

Concessions to develop and transport natural gas from Peru's Camisea deposit are faced with several problems, including insufficient demand, that could diminish interest from registered bidders, Elf Petroleum Peru president Henri Bergasse told.
Bergasse acknowledged the government's efforts to create a gas market for the interested investors, but said the project would be more attractive if it were not separated into two concessions, one for gas production and another for transport and distribution.
In addition, bidding deadlines are too short, he said. Elf has purchased bidding rules for the gas production phase and is considering partnerships with other foreign companies.
Other analysts have concurred that in order to make the Camisea project more attractive for foreign companies the government should either allow an increase in gas prices or soften export restrictions.

Source: BNA via Iinoil
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