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Oil in the Peruvian Sea: Devil's Excrement?

PERU
Saturday, May 17, 2025, 22:00 (GMT + 9)

The announcement of new oil findings off the Peruvian coast reopens a crucial debate about the country's energy, environmental, and productive future, confronting economic potential with the well-founded concerns of coastal communities and the lessons of past disasters.

The recent announcement of significant oil discoveries in the Peruvian sea has reignited a fundamental discussion about the nation's energy, environmental, and productive future.

According to the company Condor Energy, the Tumbes basin could hold a potential of up to 3 billion barrels, and an estimated 3 to 4 trillion barrels are located off the coast of La Libertad. These figures generate enthusiasm in certain business sectors and authorities, who view hydrocarbons as a promising source of income and economic growth.

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However, from the perspective of those who directly depend on the ocean, well-founded concerns and protests are emerging. In various coastal communities, artisanal fishermen have mobilized in opposition to offshore exploration plans, warning about the risks this activity would represent for fishing, aquaculture, and the marine environment if carried out. They denounce the absence of a comprehensive state policy that guarantees sustainability and protects the traditional productive activities of the coastline.

These concerns are intensified by the persistent distrust generated by the oil spill in Ventanilla, which occurred in January 2022 and involved Repsol. The administrative, legal, and environmental consequences of this disaster have not yet been fully resolved. This episode exposed the deficiencies of the environmental supervision system and the precariousness of emergency response mechanisms.

Oil spill in the Ventanilla area, Peru, generated by Repsol

In this context, promoting new oil projects without a profound institutional reform would not only be imprudent but also irresponsible. A management approach that excludes the participation of communities and environmental protection not only weakens governance but also compromises the sustainability of the entire maritime domain.

International experience offers clear warnings about the costs of negligence. An emblematic case was that of the Gulf of Mexico in 2010, when the Deepwater Horizon platform spill by British Petroleum unleashed an ecological disaster of catastrophic proportions, affecting five US states and forcing the company to pay more than $60 billion in compensation. Similar events in Brazil and Argentina confirm that these events leave difficult-to-heal scars.

¿The crucial question that arises is: who guarantees in Peru that, in the event of a calamity in the Grau Sea, compensation would be paid proportional to the damage caused to fishermen and mariculturists?

Fortunately, not all the panorama is negative. Norway presents a roadmap that demonstrates that energy development can coexist harmoniously with other key economic sectors. Based on a long-term strategy, characterized by transparency, environmental rigor, effective state control, and citizen participation, Norway transformed hydrocarbons into an engine for development without destroying its valuable ecosystems or affecting its robust fishing industry. Furthermore, it channeled its revenues into a sovereign wealth fund that ensures benefits for future generations.

Don Arístides Chulle Purizaca, a tireless defender of sustainable fishing, sums it up starkly: "The problem is that in Norway there are authorities, here there are no authorities."

At this point, it is pertinent to recall the words of the Venezuelan Juan Pablo Pérez Alfonzo, considered one of the fathers of OPEC, who warned: "Oil is the devil's excrement," underscoring the dangers of uncontrolled hydrocarbon exploitation, which can end up ruining economies and ecosystems if not managed with wisdom and a long-term vision.

Peru finds itself today at a crossroads of great significance. The energy wealth of the seabed must not be exploited ignoring the rights of those who inhabit and work on the coast. Disregarding the lessons of the past and the warnings of the present would be an unforgivable mistake.

If the decision is to advance along this path, it must be done with responsibility, transparency, and firm guarantees for the environment and the coastal population. Only then can oil become a genuine opportunity, and not a latent threat.

Author/Source: Alfonso Miranda Eyzaguirre/Expreso

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