On October 9, 1968, the Peruvian Army seized control of La Brea and Pariñas,[1] an oil refinery in northern Peru, under the orders of Juan Velasco Alvarado's so-called Revolutionary Government of the Armed Forces.

Soon after it was signed, on September 10, Carlos Loret de Mola (resigning president of the Empresa Petrolera Fiscal [es]) reported that the eleventh and final page was missing from the contract, allegedly containing valuable information about costs.

[4][5] The crisis served as a pretext for a group of army officers, led by General Juan Velasco Alvarado, to carry out a coup d'état less than a month later.

The newly created company was chaired by another General, Marco Fernández-Baca Carrasco and had to face the challenges of operating and maintaining the recently nationalised oil industry with local personnel.

Extraction and refining progressively increased owing to oilfield discoveries in the northern jungle (Loreto Department), association agreements that followed after Velasco's deposition by another coup in 1975, and the construction of the North Peruvian Pipeline [es].