Petroperú cancels the contracting process for the Comprehensive Transformation Service

The Board of Directors of Petroperú authorized, through Board Resolution No. 010-2026-PP, the cancellation of International Procurement Process PCI-0002-2025-OFP, related to the company's Comprehensive Transformation Service, following the entry into force of Emergency Decree No. 010-2025, which entrusts the Private Investment Promotion Agency (ProInversión) with the design, management, and comprehensive execution of Petroperú's asset reorganization process.

The procurement process subject to cancellation was initiated under the provisions of Article 7.1 of Emergency Decree No. 013-2024, issued on September 13, 2024, which authorized the company to contract a specialized service for the design and management of the implementation of the Comprehensive Transformation Process, encompassing strategic, operational, and financial measures.

As part of these actions, the technical specifications for the service were developed, and coordination was carried out with specialized international firms, including Boston Consulting Group, Deloitte, Alvarez & Marsal, Riveron, and McKinsey & Company. The contract was expected to be finalized during the last quarter of 2024.

Following the appointment of the new Board of Directors on November 8, 2024, and the changes in the company's management, the Petroperú Comprehensive Transformation Committee was formed on November 21 of that year. This committee was tasked with developing the terms of reference for the contracting process. In early February 2025, the committee initiated a market research process with the participation of specialized firms in the sector.

Subsequently, on August 26, 2025, the technical specifications for the service contract were approved through Board Resolution No. 103-2025-PP. The first call for bids in the international competitive bidding process was published on September 26, 2025. It was declared void on November 7, 2025, because the only valid technical proposal was for US$13.6 million, which exceeded the estimated reference amount by approximately 17.3%. 

A second international call for bids was published on November 19, 2025, with the initial target date for awarding the contract on December 16, 2025. This deadline was later extended to February 23, 2026. Proposals were received in this process from Riveron RTS LLC; the Álvarez & Marsal – Transformación Consortium; the FTI Consulting – Miranda & Amado Abogados Consortium; the Arthur D. Little – DLA Piper Consortium; and the Project Nazca – Deloitte Consortium. and Wood Mackenzie Inc.

With the entry into force of Emergency Decree No. 010-2025, published on December 31, 2025, a new regulatory framework was established assigning ProInversión the design, management, and comprehensive execution of Petroperú's asset reorganization process, thus rendering the continuation of the previously described contracting process unnecessary.

Petroperú reaffirms its commitment to taking the necessary actions, in coordination with the Ministry of Energy and Mines and the Ministry of Economy and Finance, to ensure the company's operational continuity and the execution of the asset reorganization process, aimed at its comprehensive transformation and sustainability.