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The Peruvian government announced that on December 1, the Canadian oil company PetroTal will begin the operating phase of block 95 located in Loreto, whose investment will reach $ 365 million for the next three or five years.
Petrol lot 95
The Minister of Energy and Mines, Francisco ÍSMOSES, announced that PetroTal had US $ 310 million invested in the oil well exploration phase of Block 95's Bretagne well since 2005, to date. Production could exceed 10,000 barrels a day.
The MEM holder said the exploitation of the oil field would reduce the gap between supply and demand for hydrocarbons in the country, because with the Breton well, it should increase significantly. 25% of national production of oil, currently about 40,000 barrels a day.
"12,000 barrels a day are waiting in this well [en el momento pico], with which we continue to make progress in reducing this necessary production gap. We welcome this decision and stress the need in our country to receive this type of investment in the hydrocarbon sector, which is experiencing a slowdown in exploration and investment, "said ÍSMOSES.
Good expectations
For his part, Perupetro President Seferino Yesquén said the start of Block 95's commercial development is a clear sign of Investor confidence in the country and in the potential of hydrocarbons, whose sustainable use guarantees Peru's energy development and competitiveness.
He said that Loreto will benefit from the cannon with oil which has already begun paying Lote 95, this project will also boost the economy of the region.
Yesquén added that investment in the exploration and exploitation of hydrocarbons at closing of 2018 will raise to $ 505 million, a slight recovery from the $ 486 million recorded last year, but still well below the $ 1,879 million recorded in 2012.
He also reported that the year 2018 will end with the drilling of six exploration wells, more than four drilled last year.
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