• *Operator of Block 95 presented its ESG 2022 Sustainability Report, which details the progress achieved in its environmental, social and governance projects and initiatives.
  • *Its general manager highlighted the new distribution of Loreto's oil canon as of 2024, which should bring progress to the producing provinces and districts, such as Puinahua, creating value for the resource extracted in its area.

Lima, November 30, 2023. PetroTalin started drilling a new horizontal well, 16H, in the Bretaña Norte field of Block 95 (Loreto) with an estimated investment of US $$ 15 million and whose production stage will begin in January of next year.

The 16H is the first well PetroTal drills on the new L2 West platform -completed in the third quarter- to give continuity to the company's development plans.

The operator of Block 95 also announced the publication of its ESG 2022 Sustainability Report, which summarizes the projects, programs and initiatives aligned with ESG (Environment, Social and Governance) criteria that it promotes at the local and regional level and that have made the company a benchmark in sustainability.

ESG Leadership

The report reports on projects aimed at combating climate change, such as the initiative to generate geothermal energy with hot water from the production process and the transition to the use of solar panels in the operation and neighboring communities.

In this line, PetroTal maintains its commitment to achieve a "zero net loss of biodiversity" by 2030 with a robust hydrobiological monitoring program of flora and fauna around the Bretaña Norte field, located in the Puinahua district, among others.

Also noteworthy is the completion of the genetic study of the taricaya, an emblematic species of Amazonian turtle, as well as the discovery in Peru of the Batará de Cocha, within the framework of its Biodiversity Monitoring Plan, an achievement that was awarded by the National Society of Mining, Petroleum and Energy (SNMPE).

In social matters, he highlighted his commitment to the creation of value in Puinahua with the active participation of the population without any kind of distinction, as well as the progress achieved with the Development Fund for the Puinahua District, which promotes present and future progress with the contribution of 2.5% of the value of the production of Lot 95.

Guillermo Flórez, PetroTal's general manager, emphasized that they must work together to coordinate efforts between the State, communities and the company and efficiently execute projects with the budget from the 2.5 Fund and the canon.

New distribution of the royalty

The company's general manager highlighted the enactment of Law No. 31934, promoted by PetroTal in collaboration with the Regional Government, the Municipality of Requena and the Municipality of Puinahua, which modifies the distribution of the oil canon and surcanon of Loreto and provides that the producing district, such as Puinahua, receives 10% of these transfers; the other districts of the producing province receive 20% and the producing province, such as Requena, obtains 10%.

He pointed out that this important injection of resources that the new law will generate is not limited to Puinahua, but will also reach all the districts of Requena, which will see the resources they receive from canon multiplied to finance indispensable works for the benefit of the population. He also considered that it will be fundamental for the authorities to have technical support to make an efficient and transparent use of the resources generated by the oil activity in Loreto, which is currently limited to the operation of Block 95 by PetroTal.