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Petroperú will not enter the scope of application of National Fund for Financing the State Economic Activity (Fonafe)when the reorganization process ends.
The Congress of the Republic today published Law 30873, which removes the fifth supplementary provision of Legislative Decree 1292. It indicated the entry of society into society. FONAFE.
The repealed measure provided that FONAFE exercise the ownership of shares representing the share capital of Petroperú. In addition, the holding company would appoint representatives to the company's shareholders' meeting.
The new law also amends Article Four of the Decree issued under the Kuczynski government. The text defines that Petroperú may participate as a partner in the exploration and exploitation of hydrocarbons, in accordance with the contracts signed in accordance with Organic Law of Hydrocarbons.
Parliament incorporates in the Article that the measure be implemented "without prejudice to the provisions of the fourth final complementary provision of the Law 30130"
This provision authorizes Petroperú to sign the exploitation contract of the Lot 192 Ignore Article Six of the above-mentioned law, which limits Petroperú's activities if they generate commitments to society.
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