- The resources provided by PetroTal will be managed with the participation of localities, communities and hamlets in the district, organizations, Perupetro, the university and the company to guarantee transparency.
- Clause creating the Development Fund for the Puinahua District was formally included in the Lot 95 License Agreement.

The Technical Committee of Lot 95 approved the Regulations of the Board of Directors of the Development Fund for the District of Puinahua, promoted by PetroTal, to improve the quality of life of the population throughout the district and ensure a better future for its population.

This is a major milestone that presents the conditions for governance and transparency in the use of the resources of the fund that receives 2.5% of the value of PetroTal's audited production every two weeks, as long as the operation of the Bretaña Norte field in Block 95 (Loreto) and the transportation of hydrocarbons through the district are not paralyzed by social conflicts.

PetroTal emphasized that the drafting and approval of the regulations was the result of constant coordination among the members of the board and the socialization of the proposal with the people of Puinahua and its mayor, who gave their full support.

The Regulations establish a Board of Directors that will have an initial Council led by an Executive Committee, with representatives of the population, the municipality, social organizations (JAP and Aidecobap), Perupetro, academia and PetroTal. This will guarantee a transparent, efficient and responsible use of the contributions, with oversight and governance.

This fund will address the most urgent demands of the population and promote the closing of gaps in essential services such as health, education, internet access, development of productive infrastructure and generation of resources for “post-oil” life in the Puinahua district.

The committee will listen to the contributions and requests of 18 delegates, one for each locality in the district, and of external members, and will also elect a Technical Management team made up of experienced professionals who will provide technical advice and supervise that the works are executed using the best practices in project management.

Signed addendum

Prior to the approval of the regulations, PetroTal and Perupetro signed the addendum to the Lot 95 License Contract that establishes the figure of the 2.5 Fund and an anti-corruption clause.

In this way, progress continues to be made in the necessary steps for the operation of the fund, which will have more resources as the oil activity in Block 95 grows. “It is a model that seeks to bring benefits quickly and directly to the district where the oil is extracted, in view of the limitations of the current distribution of the oil royalty, among other factors,” the company concluded.

Redistribution of the Canon for Loreto

Last Thursday, the Plenary of the Congress approved the opinion of the Economy Commission that modifies the distribution of the Canon and Oil Surcanon of Loreto. This proposal, promoted by PetroTal, will allow the Puinahua district, where the Bretaña Norte field of Block 95 is located, to receive 10% of the resources as a producing district, which is five times more than what it currently receives. PetroTal expects the Executive to promptly enact this law for the benefit of the citizens of Puinahua, as well as all other producing districts and their respective provinces.