Statement regarding the PMRT

Regarding the Press Release published in the institutional portal www.contraloria.gob.pe on the adverse situations identified by the General Comptroller of the Republic through the Concurrent Control that has been carried out to the Talara Refinery Modernization Project (PMRT), we state the following:

1. PETROPERU believes that the Concurrent Control being carried out by the Comptroller's Office is beneficial for the PMRT and, as a result, it has been providing all the information requested by the team in charge of this control in a timely and transparent manner.
2. In this sense, it has been evidenced that, due to internal discrepancies with Técnicas Reunidas (TR) prime contractor of the PMRT, some subcontractors have withdrawn from the works, causing certain delays in the work.
3. It should be noted that PETROPERU has fulfilled its contractual obligations with TR. Likewise, it has been managing agreements that allow the continuation of all the project activities and start the operations of the New Talara Refinery in the manner foreseen and agreed between the parties.
4. Regarding the contract for the construction of the Auxiliary Units and Complementary Works of the PMRT by the Contractor Cobra SCL UA & TC, we indicate that to date it is in the stage of Detail Design, Procurement of Equipment and Materials and start of works in some units; whose risks are being managed early in order to minimize possible impacts on the term and cost of the PMRT.
5. Likewise, the risks identified by the Comptroller's Office coincide in most cases with the risk analysis carried out by PETROPERU with the support of the Supervisor Company PMC Talara Consortium and the Project Management Company - Consorcio Deloitte Talara, who provide permanent support to the PMRT.
6. All the Reports that the Comptroller General of the Republic has been preparing regarding this Concurrent Control, are being analyzed and incorporated to reinforce the mitigation and/or risk elimination plans developed by PETROPERU.

By virtue of what has been stated, PETROPERU considers it appropriate to assess the Concurrent Control that the Comptroller's Office is carrying out, since it will allow to adopt and apply corrective actions to achieve the objectives of the PMRT.

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