PetroTal announced outstanding results at the end of 2024 by revealing that it exceeded the initially projected average production.
Guillermo Flórez, general manager of PetroTal, stated that at the beginning of 2024 the estimate of the performance of the Brittany Field of Lot 95, located in Puinahua, in Loreto, was expected to be between 16,500 and 17,500 barrels of oil per day and what was achieved at the end of the year It was 17,733.
“This result exceeds the expectations we had set and reflects the commitment and efficiency of our team,” said Flórez.
PetroTal recorded a record of 21,168 barrels of oil per day in November and an average production of 18,938 in the fourth quarter, 27% more than in the same period in 2023.
Operational response
After facing a dry season (historical dryness in the Amazon rivers), which caused a Declaration of Emergency in Loreto, the company quickly reactivated the operational capacity of the Brittany Field, and in November put well 21H into operation, with a production of 7,144 barrels daily.
In December, the drilling of well 22H was completed with an investment of US$12 million and it is currently drilling well 23H, whose completion is scheduled for the last days of January.
Lot 131
PetroTal Corp, parent company of PetroTal Perú, announced that Lot 131, which operates under the “Ucawa Energy” brand, registered a production of 624 barrels per day in the fourth quarter of 2024.
The company reported that it has been designing a plan to substantially increase the production of the Los Angeles Field of Lot 131 with new investments and at the same time, reviewing the contractual conditions, including a reduction in the royalty regime and an increase in contributions to the social fund, which comes talking with Perupetro, within the framework of Law 28109 (Law for the promotion of investment in the exploitation of marginal hydrocarbon resources and reserves at the national level).
Contributions to the Fund 2.5
To date, the company has allocated S/84.5 million to the Permanent Fund for the Development of the District of Puinahua, known as Fund 2.5.
This fund, administered by a board made up of Perupetro, the District Municipality of Puinahua and the organizations JAP and Aidecobap, prioritizes projects to close social gaps, such as the installation of internet connection and mobile telephony throughout the district.
In addition, the District Municipality of Puinahua received S/22.4 million oil canon and excess canon in 2024, according to Prospectiva Amazónica based on figures from the Ministry of Economy and Finance, thanks, mainly, to the production of the Brittany Field of Lot 95.
This figure reflects a growth of approximately 4.158% compared to what was transferred to Puinahua in 2023 (S/526 thousand) as a result of the new distribution of the oil canon and overcanon, established since 2024 with Law No. 31934 and its regulations, which provides greater resources to the producing district.
Erosion control
PetroTal continues to support the municipality of Puinahua to carry out the execution of a project that will contain the dangerous advance of erosion and thus protect dozens of families and the Brittany Field, the main source of oil revenue for the district and Loreto.
Guillermo Flórez highlighted that the riverside defense project is oriented to the common good and that it will apply a high engineering model that has been effective in controlling erosion in section III of the South Interoceanic Highway.
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