New Talara Refinery will start operations in 2021

The construction of the new Talara Refinery will continue to be carried out at an accelerated pace with the objective of starting operations in the first quarter of 2021, said the Chairman of the Board of Directors of PETROPERU, Carlos Paredes Lanatta. At a press conference held at the headquarters of the company, the official announced the agreements reached by his representative with the companies in charge of the execution of this megaproject.

Paredes Lanatta indicated that the agreements with the company Técnicas Reunidas and the Cobra Consortium - SCL were reviewed by the Comptroller General of the Republic for about five months, issuing Control Milestone reports No. 1677-2019-CG/MPROY-SCC and that of Control Milestone No. 2116-2019-CG/MPROY-SCC. In the latter, it indicates that the observations contained in the first report had been corrected and/or will be resolved once both agreements have been approved by the corresponding bodies.

The President of PETROPERU said that the amounts associated with the agreements reached with Técnicas Reunidas and the Cobra - SCL Consortium are of the order of USD 202 MM and USD 24 MM, respectively. These amounts have been included in the new estimated total investment amount of the PMRT (USD 4,700 MM), announced in the month of May this year.

Paredes Lanatta said that these agreements recognize the negative impacts caused by various disruptions to the project in the 2014-2018 period, and establish mechanisms to minimize future costs, as well as the deadline for the completion of the work. He also noted that the delay in the adjudication of the construction of the auxiliary units (approximately three years) was the main disruptive factor, as it generated the postponement of the commissioner and the start-up tests of the process units.

Finally, he indicated that the decisions taken avoid future cost overruns for not operating the new refinery and the preservation and maintenance of the installed equipment, which would imply a total economic cost for PETROPERU of US $ 32 MM per month.

In line with its Transparency Policy, both agreements have been pre-published on the PETROPERÚ website and will remain available to public opinion, which may make its suggestions and comments available until October 24 of this year. The mentioned documents can be consulted in the following links:

Progress at over 80%

The construction of the new Talara Refinery will allow the state company to produce fuels with sulfur concentrations below 10 parts per million, in order to preserve the environment and the health of the population. In that sense, its execution was declared of public necessity and national interest, through Law 30130.

To date, the construction of the new refinery has an integral advance of 80.74% and, according to the approved schedule, will begin its gradual start-up process in the first quarter of 2021.

The presentation of the Chairman of the Board of Directors was disseminated online and can be consulted here:

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