EP Petroecuador & Petroperu Sign an Agreement

The Public Company of Hydrocarbons EP Petroecuador and Petroperu SA signed a Framework Agreement for Exchange of Knowledge and Good Practices in Activities of the Hydrocarbons Sector, in order to take advantage of each other's strengths and experiences within the hydrocarbons sector of the two countries. The Agreement will be valid for five years, as of its subscription, and will be renewed automatically for equal periods.

As part of the signing of the agreement, the Minister of Hydrocarbons, Mr. José Icaza, stated that "with this close relationship, development instruments are implemented to enable many projects to be implemented together. Together we can do great things."

Pedro Merizalde, General Manager of EP Petroecuador, stated "the importance of resuming joint activities between both companies, as Petroperu SA could supply gas to the Plant in Bajo Alto, which will be valuable for the exchange of energy resources, both Peru and Ecuador. "

This agreement establishes a cooperation framework for the exchange of expertise, information, and experiences related to the oil industry practices between the two companies.

Petroperu, with 47 years of operation, is a company dedicated to the transportation, refining, distribution and commercialization of fuels and other petroleum products; And EP Petroecuador, with 44 years of institutional life, carries out activities in the same areas of the hydrocarbon operation; For which, this agreement will be a technical and operational cooperation tool of great utility for the two countries.

The signing of this agreement is a commitment of the Presidential Encounter and IX Ecuador-Peru Binational Cabinet of Ministers 2015. The Plan of Action of the Declaration of Jaén, in its number 61, referring to hydrocarbons, establishes as a commitment that: "The Competent Ministries will promote the signing of a Framework Agreement between Petroperu and Petroecuador EP for the exchange of knowledge and good practices in the activities carried out by both companies. "