Details on the participation of a strategic partner in Lot 192

Mr.
Julio Lira Segura

Journalistic Director, Gestión Newspaper

Jr. Jorge Salazar Aráoz 171, Urb. Santa Catalina.

La Victoria. –

Esteemed Mr. Lira:

I am pleased to greet you, hoping that you are well. The reason for this is to specify information that appeared in the note entitled “The Canadian Altamesa is chosen as a Petroperú partner to operate Lot 192,” published in its June 24 edition. There it is stated that “… the aforementioned strategic partner [Altamesa] would assume -as Petroperú had previously foreseen- 75% in the contractual position for the operation of the lot, and the state oil company the remaining 25%, the latter paying its participation with the future oil production”.

In this regard, I wanted to clarify that these percentages are not correct nor have they been announced by PETROPERÚ. Previously, the Company had established an alliance with the Geopark company for the exploitation of Lot 64, in which the aforementioned mechanism was effectively applied with the percentages mentioned in the note. This association was resolved in August 2020. However, that does not mean that for other similar agreements those percentages are maintained.

In this regard, we clarify that when selecting the Canadian company Altamesa for the joint exploitation of Lot 192, participation percentages have been negotiated and agreed upon that we cannot disclose at the moment, since there is still no license agreement for the operation of the lot in which has been incorporated into the aforementioned Canadian company.

It should be remembered that a prior consultation process is being carried out by MINEM and Perupetro, after which the license agreement with PETROPERÚ would be signed and, later, Altamesa would have to be incorporated into said license agreement. Meanwhile, for legal reasons, it is not possible to make public all the conditions of the agreement with the aforementioned Canadian firm.

Consequently, we would be grateful if you would make these clarifications to your note.

Carla Santa Cruz

Communications Department Manager