Peru's state oil company selects New York law firm to assist with $2 billion financing

en.Wedoany.com Reported - Petroperú is engaging in strategic negotiations with international banks through legal counsel to advance its $2 billion financing plan, which is part of the company's restructuring.

The Private Investment Promotion Agency (ProInversión), in a special procurement process, has selected the New York-based law firm Skadden, Arps, Slate, Meagher & Flom to provide specialized legal advisory services to Petroperú, supporting its financing negotiations with multiple international banks.

The Peruvian government approved Emergency Decree No. 003-2026 in May, aimed at mitigating the energy crisis and ensuring hydrocarbon supply through unconventional and emergency measures. Specific measures under this decree include arranging up to $2 billion in financing for Petroperú from international private banks. ProInversión is currently managing the company's comprehensive reform process.

Meanwhile, Petroperú has completed the offshore construction phase of the new multi-buoy terminal at the Talara refinery, while onshore work continues. Built by the PSAMPO-PSAMP consortium, the terminal can expand vessel capacity to 150,000 deadweight tons (DWT), accommodate Aframax and Suezmax vessel types, and allow for the receipt of up to 1 million barrels (Mb) of crude oil.