A budget greater than S/ 400 million (US $$ 107 million) PetroTal will allocate this year to the development of Block 95 (Loreto), which has been operating since 2018.

Your work plan for 2024 contemplates drilling and commissioning of three new horizontal wells in the Bretaña Norte field -located in the Puinahua district- and the sustained growth of the infrastructure of Block 95.

The company expects to reach average production of 17,000 barrels of oil per day (bopd), representing a 20% year-over-year growth.

Guillermo FlórezPetroTal's general manager, highlighted that, following the good operating and financial results achieved last year, by 2024 the company has prepared a plan oriented to further accelerate the company's growth.

"We will also perform investments in security infrastructure on the basis of a long-term plan that seeks to protect the operation and surrounding areas from the advance of erosion," he said.

PetroTal's projects for this year also include the development of a seismic campaign south of the Brittany field and the establishment of two new production routes: one to the port of Bayovar through Yurimaguas and the other via Ecuador's Heavy Crude Oil Pipeline (OCP).

Well 16H

The first well drilled by the company on the L2 West platform, 16H, already in production and has reached an average of approximately 7500 bopd, which allows us to foresee a good profitability.

Fund 2.5

PetroTal estimates that more than S/ 33.5 million (US$ 9 million) for the so-called Fund 2.5, provided that the operations of Block 95 and the transportation of hydrocarbons in Puinahua are not affected during the year.

In the short term, the establishment of the board of directors and community representatives to implement the operation of Fund 2.5, created to finance development projects in all localities, communities and hamlets of Puinahua.

In addition to this, there will be the important oil royalty transfers The amount that Puinahua and the other districts of the province of Requena will receive after the approval of the law that improves the distribution of this concept in the Loreto region.