Perupetro S.A., on behalf of the Peruvian State, is in charge of promoting investment in hydrocarbons exploration and exploitation activities as well as negotiating and entering into contracts with the purpose of making the best use of hydrocarbon resources.

In fulfillment of its duties, Perupetro S.A. is working in the contracting conditions for a thirty (30) years period contract for Block 192, according to what is set forth in the Board of Directors Agreement N° 131-2015, approving the “General Framework for Contracting Hydrocarbons Exploitation in Block 192”.

Law N° 30357 authorizes Perupetro S.A., previous evaluation and by direct negotiation, to sign with PETROPERU S.A. the Contract for Hydrocarbons Exploitation in Block 192. Once conditions for contracting Block 192 are established, during last quarter of 2016, Perupetro S.A. will evaluate the legal, technical, economic and financial capacity of PETROPERU S.A. and if it results qualified, direct negotiation will be executed. If direct negotiation concludes satisfactorily, and after celebrating the respective Contract, PETROPERU S.A. could look for strategic partners, as per it is established in Law N° 30357.

If the contracting with PETROPERU S.A. is not made, Perupetro S.A. will call for an International Bidding Process for Block 192, in which any oil company could take part. The mentioned process will include the same minimum requirements requested for the direct negotiation process with PETROPERU S.A.

In this respect, Perupetro S.A. puts at disposal of the interested companies, technical, social, environmental and contracting information, related to Block 192 project, with the purpose it can be evaluated early in the process. Information will be updated from time to time.