Killajoules

Technip’s subsidiary Tipiel awarded a contract for a new gas pipeline in Peru
Tipiel(1) S.A., Technip’s subsidiary in Colombia, was awarded by the Consorcio Constructor Ductos del Sur(2), a front-end engineering design and detailed engineering design contract, on a lumpsum basis. This covers the development of a new gas pipeline to transport gas from the Camisea field to Southern Peru.

Petroperu awards to TR the Talara refinery modernization project (Peru)
Tecnicas Reunidas (TR) and Petroperu have signed the final agreement for the conversion to LSTK contract for the Talara refinery modernization project in Talara, Peru, for the execution of engineering, procurement and construction of the crude processing units for the modernization of the refinery.

The agreement reached corresponds to the conversion of the previous contract
awarded under “open book” contract of which its total value is approximately 2,700
million USD.

This represents the largest refining turnkey project world-wide awarded to a single
contractor; a milestone previously achieved by Tecnicas Reunidas in 2011 with the
award of another refining turnkey project in Turkey for 2,400 million USD.

The project includes the design and detailed engineering, procurement of all equipment and materials, construction and assistance to the start-up of the facility within a schedule of 55 months. The project’s objective is to produce diesel and gasoline fuels according to the new Peruvian environmental requirements (with a maximum sulfur content of 50 ppm) at competitive prices.

The project will also contribute to reducing environmental impact, the production of
fuels of improved quality and of course provide an increase in the ability to process
heavy crudes to improve operational flexibility.

In line with the protection of the environment, this refinery will have minimal emissions, generate its own electricity and include its facilities for desalination of sea water and purification to avoid altering the aquifers in the area.

The modernization project will increase the refinery production from 62,000 to 95,000
barrels per day.

First barrel of oil produced on Block 67
On the 5th December the Peruvian President, Ollanta Humala Tasso celebrated the first barrel of oil produced in the field.

ConocoPhillips Opts Out of Exploration in Two Peru Blocks
ConocoPhillips (NYSE: COP) today announced a decision not to pursue further exploration activities in Peru Blocks 123 and 129. This decision to withdraw as operator and opt out of the next exploration period is part of the company’s strategic plan to optimize its portfolio of assets.

Repsol makes a significant gas find in Peru
Repsol has made a new gas discovery in block 57 in Peru. The well, known as Sagari, was successful in two different formations, known as Nia Superior and Nia Inferior.

Peruvian Government Approved Block 67 Environmental Study
On August 3rd, 2012, the Bureau of Energy Environmental Affairs of the Peruvian Energy and Mines Ministry, approved the Environmental Impact Assessment (EIA) for the Project of Development Phase of Block 67, located in the province and region of Loreto.

Petroperu signs agreement with Ecuador for use by the North Peruvian Pipeline
On Wednesday Aug. 8, was signed in Quito, Ecuador, an agreement to promote and facilitate the transport of oil from the Ecuadorian southeastern North Peruvian Pipeline (ONP). The event will be held at the offices of the Ministry of Non-Renewable Natural Resources of Ecuador. The document will be signed by Pedro Mendez Milla, Petroperu General Manager and representatives of the Ministry of Oil, Ecuador (SHE). The Chairman of Petroperu Sanchez Humberto Campodonico said that this agreement reinforces the bonds of friendship and integration between sectors of hydrocarbons in Peru and Ecuador.

Perenco strengthens the development of Block 67
Perenco Peru has taken an important step towards the strengthening of the Block 67 development by signing a memorandum of understanding with Petroperu, the Peruvian oil company, through which it will transport the production from the block by the existing Norperuano pipeline.

Societe Generale Signs deal To Fund Modernization of Petroperú 's Talara Refinery
In the presence of the Minister of Energy and Mines Jorge Merino and Vice President of the Republic, Marisol Espinoza, among other authorities, on Wednesday 23 Mandate Charter was signed between Petroperu and French bank Société Générale for the financial structuring comprehensive service Talara Refinery Modernization Project (PMRT) is estimated to cost U.S. $ 1.711 million dollars.

Petrominerales Provides Exploration And Operations Update Highlighted By Bromelia-1 Well
Petrominerales Ltd. (“Petrominerales” or the “Company”) (TSX: PMG, BVC: PMGC) is pleased to provide the following exploration and operations update.