The Camisea Project comprises three different segments: The Upstream, The Transportation and The Distribution, which come together in the same challenge.

Upstream

Under the License Contract, the Upstream consortium holds the rights for the extraction of natural gas and liquids hydrocarbon in Block - 88 for 40 years. The upstream investment during the pre-operational period will rise to approximately US$ 550 million. The Upstream Consortium members are international oil and gas companies who have significant experience in the development of reserves and fields operation: Pluspetrol Peru Corporation S.A.(operator); Hunt Oil Company of Peru L.L.C.¸SK Corporation.; and Tecpetrol del Perú S.A.C. (fully owned by Techint Group).

Transportation

The Project includes the construction and operation of two pipelines, one for natural gas (714 km) and one for natural gas liquids (540 km). The total cost of the Project is estimated at US$820 million, which includes financing costs and funding of reserve accounts. Commercial operation must start no later than August 2004 per the concession agreements.

Transportadora de Gas del Perú (TGP) is the Peruvian company in charge of the Transportation project. It is led by Tecgas N.V. and formed by other international companies: Pluspetrol Resources Corporation; Hunt Oil Company.; Sonatrach Petroleum corporation B.V.I.; Graña y Montero S.A.; SK Corporation; and Tractebel.

Distribution

Tractebel will build a 60 km main distribution pipeline that will deliver gas to some of the largest industries and power generators in the cities of Lima and Callao. The planned initial investment will be about US$ 55 million. Over the following years, additional networks will be developed to connect an increasing number of industrial, commercial and residential customers. The total investment is estimated at US$170 million.