Camisea recoverable contents:
	Gas: 11 TCF
	Liquid: 600 MMBls
	Camisea is a field located in jungle with two main areas: San Martin and Cashiriari
	An old project well known by Shell and Perupetro with 8 well drilled
	It exists good documentation about it
	There are several possibilities about its development
	Despite Shell rupture, Shell showed interest and it participated in Camisea previous information round. Mobil participated too. There were 29 companies interested

	Two main potential market are power generation and industry
	Petrochemical is a market for medium term
	Residential/commercial market is the market for long term period
	The market grouth is supported by an average interesting PBI (6% average in last 6 years) and sustained historical electricity consumption (4,5%) despite country situation

	The industry is little but concentrated in Lima and La Oroya
	All first 40 companies consumption could be 60-80 MMscfd for 2003 with out considering refineries but with cement industry
	Cement industry is a doubtful client because coal support. It means 30 MMcfd for 2003
	Fuels industry demand is higher but it is needed the penetration period

	Despite competitors supply it is expected 70-100 MMscfd demand for 2003 at least
	It already exists two power plants in Lima capable to burn 150 MMscfd of natural gas
	The existing grid let electricity supply from Lima to places located far away
	Perú Electricity intensity is low, about 700 Kwh/inhabitant. Government is constructing new transmission lines to facilitate the widest electricity arrival

	There are a New Hidrocarbon Law (august 1993)
	By License contracts contractors have the extracted hidrocarbon property
	Free money dispose of 100%
	It lets short depreciation period
	Electricity Law (june 1992)
	Generation, transmission and distribution activities are separated businesses
	Free prices for client consumption more than 1 Mw
	COES for System operation
	CTE for Regulated market Tariff
	Marginal costs foundations

	Electricity
	Tariff doesn’t consider gas transportation cost. This cost will be low because of some guarantees for transporter.
	Distribution
	City Gate is far away from clients. It is expected changes
	Tariff formula sounds good, but some before assets electrical distributors valuation problem are not a good precedent
	Transportation
	Tariff generators privileges could push to hydro-thermal companies not to suscribe gas sales contracts

	Size of project associated to liquid recovery strategy because gas production depends on liquid recovery strategy
	Liquid recovery depends of reservoir conditions, market and possibilities of a big investment
	Camisea is located 500 kms from coast
	There are two main fields: San Martin and Cashiriari

Part	Small	Big
Drilling	42	250
Infrastructure	43	100
Processing Plant	85	600
Transportation	560	525
Liquid line		245
Fractionation/storing/dispatch		150
Distribution	60	60
Total	790	1,930

In all cases, the investment is phased. These numbers are cummulated investment.

On summary                                      (MMUS$):

Phase	Small	Big
Field	170	1,100
Transportation	560	770
Distribution	60	60
Total	790	1,930

transportation and distribution will be presented as only one package

Something else:

	It can be presented different choices:
	Minor project. In 1988 Shell expoused a smaller project: US$ 1,200 millions. The level of liquid were lower and gas extraction and reinjection too
	Cost effective can be improved with new designer and constructors

	Any route has to cross jungle (250 km), Andes (between 1200 as 4800 m altitude and cold climate - 300 kms) and Coast (50 kms)
	In 1988, it was elected "northern route" (Bechtel) to Lima. It pass near two central country companies (mining and cement) with 20 MMscfd potential gas consumption
	In 1997, Shell chose "southern route" (Bechtel) with "aggregate value" to Pisco-Pampa Clarita (200 kms from Lima). This route is called the route for future expansion. This route is considered in current Bid

	Energy Minister indicates Camisea will be given in separated business
	Cepri Comision
	After ten months preliminary studies
	Separated business is going on to bid
	Schedule
	Calls by may 31, 1999
	Transportation and distribution next four months.
	Production fields : six month. Contract on december 1999

	Regulation changes because of country importance project
	Some improvements related Shell environment negotiation
	Term for execution: 2000-2003