12 de junio de 2015 / 21:30 / en 2 años

UPDATE 2-Petroperu plans $2.7 bln in global bonds, sees 2015 profit

(Adds details on partial privatization, block 192 bid, context)

By Mitra Taj and Marco Aquino

LIMA, June 12 (Reuters) - Petroperu plans to issue $2.7 billion in global bonds, likely with a 30-year maturity, by the end of November to finance expansion of its main refinery, the president of the state-owned energy company said Friday.

German Velasquez said French bank Societe Generale and Peruvian bank Cofide are the bookrunners on the planned transactions, which will allow Petroperu to ramp up work on its Talara refinery that is 13 percent complete.

“We think the bond sales1 should culminate in November of this year for the entire debt ... $2.7 billion,” Velasquez told Reuters in an interview.

Petroperu forecasts swinging back into net profit this year after posting a loss in 2014, Velasquez said, amid restructuring aimed at boosting competitiveness.

Petroperu would consider selling up to 49 percent of its shares on the local bourse after - among other things - the Talara expansion is 50 percent complete in 2017, Velasquez said.

Peru changed the law to allow for Petroperu’s partial privatization in late 2013.

Velasquez also said Petroperu will likely take up its option on a 25 percent stake in Peru’s most productive oil block, 192, next month.

Peru will announce the winning bid for the main operator of block 192, formerly called block 1-AB, July 15. The field now produces about 12,000 barrels per day, nearly a quarter of Peru’s relatively small output.

“It’s very attractive to us,” Velasquez said, adding that he visited the field in Peru’s northern Amazon last week.

If no technically-sound bids are presented, Petroperu would offer to operate the block alone, Velasquez said. “We would not run from the challenge.”

Velasquez was named Petroperu’s fourth chief during the four-year term Peruvian President Ollanta Humala in March.

Humala has vowed to transform Petroperu into a major energy player, but his plans for the firm to take part in production for the first time in two decades have faced delays.

The company now mainly transports, refines and commercializes oil products.

But Velasquez said that its plan to tap block 64, which holds some 55 million barrels of proven and probable light crude reserves, could get underway soon.

Petroperu controls a 75 percent stake in block 64. GeoPark Limited, the operator, owns 25 percent.

Petroperu and GeoPark recently agreed to extend their planned partnership - first inked in October - until the government finalizes approval. A final green light is still pending from the finance ministry, Velasquez said. (Reporting by Mitra Taj and Marco Aquino; Editing by Meredith Mazzilli, James Dalgleish and Bernard Orr)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below