• The construction of the breakwaters will protect families in the Puinahua district, where PetroTal operates, from the dangerous advance of erosion.
  • The sustainable financing obtained by the company recognizes the positive long-term social impact that the project will have.

Families in the town of Brittany, the capital of the district of Puinahua (Loreto), and the operation of the Brittany oil field will have a better protection against the advance of erosion caused by the river, thanks to a project promoted by PetroTal, the operator of the Lot 95, which has obtained a syndicated loan from the Inter-American Finance Bank (BanBif) and Corporación Financiera de Desarrollo (Cofide).

The project, which includes the construction of five large breakwaters The project, located near Villa Gran Tierra and Camp Brittany, will receive a joint sustainable loan of US$$ 65 million. This investment seeks to protect both the families living in the area and a strategic asset for the local population and the national oil industry.

The loan is part of the scope of sustainable financing, PetroTal explained that it applies to projects, companies or activities that generate a positive impact on the environment, society and governance, which are ESG criteria, and that seek to be profitable.

Juan Carlos Garcia Vizcaino, general manager of Banbif, stated that the loan represents a milestone in its commitment to strengthening collaboration and trust between private banking and the extractive sector. “The recent loan formalization with PetroTal reflects our shared commitment to a stronger and more sustainable energy future,” he said.

Jose Antonio Sarmiento, Cofide's general manager, said that PetroTal has been a strategic actor in the search for benefits for the population of Puinahua, as part of the development of its operations in that district, and that the Erosion Control project, which Cofide is pleased to finance, is another example of this.

“Since we began operations, our neighbors have been an integral part of PetroTal's success. This project will be a barrier against the force of the river that will protect the community for decades,” emphasized Guillermo Flórez, PetroTal's general manager.

The project arose from a alliance and agreement between PetroTal and the District Municipality of Puinahua which will become a reality thanks to the confidence of private banks and the Peruvian development bank. This financing marks a milestone in the oil sector due to its social and environmental focus.

In recent months, the flooding of the Amazonian rivers has left Hundreds of people affected in different areas of Loreto. The Puinahua district has been no exception. With this project, the inhabitants of the lower part of Brittany will be able to face the phenomenon of erosion with a sustainable and long-term solution.