The company holds 145 billion cubic feet of proven natural gas reserves, providing a foundation for expanded supply to residential, industrial, transportation and power generation sectors across northern Peru. Guzmán Zegarra identified transmission capacity constraints as a limiting factor, noting that electrical grid bottlenecks already hinder the region’s ability to meet growing demand from new economic activity.
Piura accounts for 16 percent of Peru’s non-traditional exports and generates approximately 300,000 direct and indirect jobs, according to the Association of Exporters. The region dominated 2025 export volumes for mango (74 percent), Cavendish bananas (78 percent), Tahiti lemon (78 percent) and frozen squid (72 percent). First-half 2026 export values reached $1.763 billion, placing Piura tenth among exporting regions.
Olympic Perú emphasized three conditions necessary to attract exploration capital: regulatory predictability, contract horizons aligned with exploration timelines, and incentives linked to new investment commitments. Guzmán Zegarra called for greater accountability from regulatory agencies to clarify how their decisions support national energy security and development objectives.
The executive argued that joint public-private sector efforts are essential to extend Lima-comparable gas pricing to end users in Piura. Expanded utilization of locally produced gas could reduce energy access gaps between the capital and other regions while strengthening northern Peru’s economic competitiveness. The region’s reserve base and growing demand create conditions for Piura to contribute more significantly to national energy security, provided production capacity and infrastructure advance in parallel.
This article was curated and published as part of our South American energy market coverage.
