Repsol-YPF plans to invest $ 1 bn in Peru’s La Pampilla refinery

Spanish oil firm Repsol-YPF expects to invest up to $ 1 bn in its La Pampilla refinery, located in Talara, Piura, in the north of Peru in the next five years, company President Antonio Brufau said, after a meeting with Peruvian President Ollanta Humala.
The company expects to invest also on exploration and development of blocks that are already producing natural gas.

"It all depends in the success we have, but the geological conditions in Peru are temporary, we have to take advantage now," Brufau said.
This investment is similar to the one being made by state-owned PetroPeru in the modernization Talara refinery, which totals $ 1.7 bn.

Brufau met at the government with President Humala; the President of the Council of Ministers, Salomón Lerner; the minister of Energy and Mines, Carlos Herrera: and PetroPeru president, Humberto Campodónico.
Repsol-YPF is an important partner in the consortium led by Argentina's Pluspetrol that operates the natural gas fields in Camisea, in south-eastern Peru. A pipeline through the Andes mountains transports the fuel to the Peruvian coast.