Background on Petroperú and the Lote 192
Petroperú, Peru’s state-owned oil company, is currently in talks with five companies to find a partner for the Lote 192, an oil block located in the Amazon region near the border with Ecuador. The main objective is to restart production and supply the modernized Talara refinery, which is working to overcome financial difficulties due to higher-than-expected investments of up to $6.5 billion in its plant.
Key Players Involved
Among the companies Petroperú is discussing with are Peru-Canadian firm PetroTal and US-based Uplan Oil and Gas. Petroperú holds 39% of the Lote 192, while Altamesa Energy Canada INC previously owned 61% but withdrew due to debts owed to suppliers and nearby communities.
Negotiations and Timeline
Tomás Díaz, the exploration and production manager at Petroperú, informed Reuters that they aim to finalize an agreement with one of the interested parties by mid-to-late July. Díaz stated, “We are in a direct negotiation process… PetroTal has expressed interest in the process, so we will meet with them next week.” He added that they expect to select their operating partner within two weeks, which will then be presented to Petroperú’s board for approval.
Community Commitments
Díaz emphasized that the upcoming operator of Lote 192 must respect nine service agreements with community-based companies in the region. These commitments were established by Altamesa Energy Canada INC before their withdrawal.
Production Expectations
Petroperú anticipates an average daily oil production of up to 12,000 barrels per day from Lote 192 within six months of operations. This production could potentially rise to approximately 21,000 barrels per day following a new well drilling plan that the incoming operator will implement.
Key Questions and Answers
- Who is Petroperú? Petroperú is Peru’s state-owned oil company responsible for exploration, production, and refining of petroleum.
- Why is Petroperú seeking a partner for Lote 192? Petroperú aims to restart production and supply the modernized Talara refinery, which is dealing with financial difficulties due to higher-than-expected investments.
- Which companies are Petroperú in talks with? Petroperú is discussing potential partnerships with Peru-Canadian firm PetroTal and US-based Uplan Oil and Gas.
- What are the production expectations for Lote 192? Petroperú anticipates an average daily oil production of up to 12,000 barrels per day within six months, with potential increases to around 21,000 barrels per day following new well drilling plans.
- What community commitments must the new operator respect? The incoming operator of Lote 192 must honor nine service agreements with community-based companies in the region, established by Altamesa Energy Canada INC before their withdrawal.
