Finally, after 14 years of uphill legal battle, the Decentralized Culture Directorate of Cusco (DDCC) demonstrated that the Peruvian State, not a family, is the owner of more than 22,000 hectares of Machu Picchu land," Deputy Minister of Cultural Heritage and Cultural. Finally, after 14 years of uphill legal battle, the Decentralized Culture Directorate of Cusco (DDCC) demonstrated that the Peruvian State, not a family, is the owner of more than 22,000 hectares of Machu Picchu land," Deputy Minister of Cultural Heritage and Cultural. Petróleos del Perú (English: Petroleum of Peru), better known as Petroperú, is a Peruvian state-owned enterprise and private law dedicated to the transportation, refining, distribution, and commercialization of fuels and other petroleum products. It has been owned by the State of Peru since 1969. The move opens key assets to private investment and comes as Petroperu faces mounting losses and debt. Peru's interim President Jose Jeri delivers a message to the nation in Lima [File: Peruvian Presidency/AFP] Peru's government has approved an emergency decree allowing private investment in parts. Peru is a geographically and ethnically diverse country encompassing portions of the Amazon Basin, the Andean highlands, and the Pacific coast of South America (Figure 1). In 2001, Peru transitioned from a period of domestic terrorism, authoritarian rule, and erratic economic performance to one of. The Constitutional and Social Law Chamber of Peru's Supreme Court of Justice declared unfounded the claim for the land lying inside what is now the Machu Picchu Archaeological Park, located in Urubamba province (Cusco region). Structural reforms and sound macroeconomic policies created high growth, low inflation, and a greatly reduced poverty rates from 52. Credit: Postmodern Studio/Shutterstock. PetroPeru's chairman, Alejandro Narvaez, disclosed that the company is planning to.