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Braskem, Petrobras & PetroPeru to study Petrochem Project
23
May '08
Braskem, Petrobras and PetroPeru signed an agreement aimed at assessing the technical and economic feasibility to implement an integrated project for the production of 700 thousand to 1.2 million tons of polyethylene from competitive natural gas available in Peru.

This project will represent the installation of the largest petrochemical complex on the western coast of the America, combining global scale, cutting edge technology and high competitiveness. Peru has current and potential reserves of natural gas rich in ethylene, with content levels exceeding 10%. The competitiveness and strong attractiveness for new investments that exist in Peru, as well as its privileged geographic position, were important points in approaching the companies for the project study.

The venture will also contribute to Peru's economic and social development, generating favorable conditions for attracting investments by new plastic manufacturing industries.

Petrobras, which is already very present in the Peruvian market, made an important gas discovery in January 2008, in partnership with other companies. It expects the studies will contribute towards defining the best use of future production in Peru. The company thus reaffirms its commitment with the development of business and creation of value in South American companies, accentuating its operations in the petrochemical sector. The studies will also reinforce the agreement signed in 2006 between Petrobras and Petroperú, which has already given rise to several joint projects in the E&P and downstream areas.

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