Paraguay: Actions to attract companies interested in hydrocarbon prospecting

This Petropar release was published using machine translation.

With the objective of finding investors for the exploitation and exploration of hydrocarbons in the blocks that Petropar owns in the western region, a representative of our company participated in a meeting at the Chinese Embassy (Taiwan).

During the meeting, a brief review was made of the history of hydrocarbon prospecting, exploration and production (E&P) activity in the national territory, in general, and in particular Petropar's participation in this phase of the oil industry. In this sense, it was mentioned that, since November 2014, Petropar was appointed by the National Executive Branch to take charge of E&P on behalf of the Paraguayan State.

To implement this, it seeks to select interested specialized companies with whom to sign contracts in the contractual modality of the Production Sharing Agreement -APC- (Production Sharing Agreement -PSA-. in English). To this end, since June 2, 2022, the PETROPAR OPEN ROUND (RAP) has been in force, which is an open international call for the selection of oil companies to carry out the prospecting, exploration and exploitation of hydrocarbons in the Petropar blocks.

During the meeting, the interest of our institution to establish contacts, through the Embassy, with the state oil company of China (Taiwan) CPC, was raised, considering that this company operates internationally in the field of E&P.

The Economic Secretary of the Embassy, Inés Tsao, considered it important to make CPC aware of the business opportunity with Petropar, so that they can analyze the feasibility of the participation of that company in the plans for the prospecting, exploration and production of hydrocarbons in the Petropar blocks, even more so, considering the Cooperation Agreement between Paraguay and China (Taiwan).

On behalf of our company, Andrés Peralta García, Head of the UEE; Sonia Molinas, Head of the Technical Department of the UEE; and Indira Gil, Head of the Department of Contracts and Inspection of the UEE.