PETROLEUM REHAB.

closed

The project's objectives are to increase Peru's oil production in the short term by an initial 19,600 barrels per day, to sustain the level of petroleum production in the medium term and to improve the financial situation and technical capability of PETROPERU. These objectives would be accomplished through: (i) the rehabilitation of existing PETROPERU wells on the coast and the jungle; (ii) the undertaking of seismic surveys in the jungle and the updating of a feasibility study for a secondary recovery project on the north coast; and (iii) the provision of consultants' services and training to strengthen PETROPERU financially and technically and to study overall petroleum sector investment requirements and domestic pricing policies. The project faces no special risks. Technical assistance would be provided to PETROPERU under the project to train its personnel in the use and maintenance of equipment (also to be provided under the project) with which PETROPERU has not had previous experience.