Overview
- Perupetro notified Upland on October 30 that it was disqualified from assuming the planned 79% stake in the Lote 192 license.
- Regulators said Upland showed legal capacity but failed to prove economic and financial capacity, citing missing financing agreements with Grupo Coril and inconsistencies with a JCR LATAM solvency report that referenced up to US$147.51 million.
- Upland can request a review before Perupetro’s board, according to the agency’s procedures.
- Lote 192 remains under Petro‑Perú as corporate guarantor, the restart timeline is uncertain, and other interested operators such as Petrotal, Cheiron and New Stratus could be courted.
- Petro‑Perú reported a Q3 2025 net loss of US$355 million and recorded that the Upland arrangement was left without effect following Perupetro’s ruling.