Residents in Peru stand to benefit from invigorated training and development programmes as a result of a new funding deal between the International Finance Corporation (IFC) and BPZ Exploracion y Produccion.

A subsidiary arm of BPZ Resources, the latter firm has a growing presence in Latin America and has iterated its commitment to helping the domestic workforce through oil education programmes.

Meanwhile, Somit Varma, director and global head of IFC's oil, gas, mining and chemicals department, said: "IFC is supporting its strategic clients that make a difference for the local communities in the regions where they operate."

In addition to running oil training courses for local workers, BPZ said that the $15 million (£9.53 million) funding package would also help it to develop microenterprise and robust health services for the local populace.

BPZ Energy was founded in 2001, although its predecessor BPZ & Associates was active for more than a dozen years previous to this, in a capacity as an energy project developer.

Oil and Gas Directory: Training and Development