• *The company produced, on average, 10,909 bopd in the third quarter.
  • *PetroTal's general manager highlighted the approval of the regulation that modifies the distribution of the oil canon in Loreto.
  • *He also highlighted the delivery of solidarity support to the population of Puinahua with the 2.5 Fund.

Lima, November 14, 2023. The drilling of new horizontal wells in the Bretaña Norte field of Block 95 is assured by the new platform that PetroTal, a company led and operated by Peruvians, has installed in this operation located in the Puinahua district of Loreto, complying with all legal requirements.

In its quarterly report, the company, which has been operating Block 95 since 2018, highlighted that, in addition to the new West L2 platform, it also completed the drilling of a new well, 15H, during June, which will increase production from November.

Average production in the third quarter was 10,909 barrels of oil per day (bopd), mainly due to weather conditions that caused a severe decrease in river flows and, therefore, limited river transportation of hydrocarbons.

"Despite the sales challenge we faced in the third quarter, the company achieved good financial results that were driven by good Brent oil prices and prudent budget execution by our management team," said Guillermo Flórez, PetroTal's general manager.

More canon for Loreto

Guillermo Flórez highlighted the recent approval in Congress of the law that modifies the distribution of the canon and oil surcharge in the Loreto region so that the producing provinces and districts receive a higher level of transfers for this concept.

He considered that this is a fair distribution with the population of districts such as Puinahua, who live with the activity and are the ones who should have greater benefits from the resources generated by the sustainable extraction of natural resources, but he pointed out that the regulation also benefits the other districts of the producing province because they will have greater transfers for this concept.

He also highlighted the results of the delivery of the Social Solidarity Support -an economic contribution of S/ 2000- to more than 3800 citizens of Puinahua, charged to the resources of the Development Fund for the District of Puinahua (Fund 2.5).

He emphasized that the support delivered in mid-October activated commerce in the district and enabled the beneficiaries to meet urgent expenses in their homes and improve their productive activities.