▫︎ Guillermo Flórez, PetroTal's general manager, highlighted the company's leadership in terms of production, investments and sustainability in Peru Energy 2024.

An amount in excess of US$ 500 has been invested by PetroTal since the start of its operations, in 2018, to May this year. The bulk of this investment has been allocated to the development of the Bretaña Norte field of Lot 95 (Loreto), which today is the largest oil producer in the country, and a benchmark in the use of technology and sustainability in the national hydrocarbons industry.

This was stated by Guillermo Flórez, PetroTal's general manager, when he pointed out that the company's value has increased fivefold and today stands at US$$ 550 million. “The objective is to bring the value of the company to US$ 2000 million by 2030,” he said in his presentation at Peru Energy 2024.

In his presentation, he informed that in the Bretaña Norte field, located in the Puinahua district, there are 19 producing wells, most of them are horizontal and have technology that increases productivity and reduces the impact.

He commented that in 2023, the company had an average production of 14,200 barrels of oil per day (bopd), which represented 40% of the national total, and that in the first quarter of the year the result was 18,500 bopd.

In the social area, he indicated that the company promotes articulation to bring state services and programs closer to its neighbors in Puinahua and that, through the so-called 2.5 Fund, it contributes the value of 2.5% of its audited production to finance development projects in the district.

In this sense, he pointed out the importance of the 2.5 Fund's board of directors taking up the proposal that 1% of the production value -of the 2.5% that the company contributes to the fund- be reinvested for the post-oil life.

“If we start reinvesting these contributions now, it is estimated that by 2041, at the end of our contract, this sustainable fund will have accumulated more than S/ 500 million which, with an annual interest rate of 10%, would make it possible for Puinahua to receive S/ 50 million a year without depending on oil activity,” he said.

He also highlighted the increased oil canon transfers that Puinahua has received since January under Law 31934.

On the environmental front, he reported that the company's agreement with SERNANP allows it to protect the Pacaya Samiria National Reserve from illegal logging and fishing, among other things, and that district residents, through the PROMOSAC program, monitor the company's compliance with the corresponding norms and standards.

In the Peru Energy 2024 exhibition area, PetroTal displayed agricultural products made by entrepreneurs from Puinahua, a model showing how it performs horizontal drilling and provided information on its vision and projects.