The PetroTal company revealed that it plans to invest in Peru more than S/ 475 million (US$ 125 million) during 2023, which would be used to develop new horizontal wells and infrastructure in the lot 95located in Loreto —currently the largest producer of crude oil in the country and the main generator of oil canon for the region—, as well as the company’s social initiatives, among which the Puinahua District Development Fund stands out.
According to the firm, the plan The purpose of the investment is to increase PetroTal’s production by 15% to 19% compared to 2022 levels to reach an average of between 14,000 to 15,000 barrels of oil per day (bopd).
In detail, the company that lists its shares on the Toronto (Canada) and London (United Kingdom) stock exchanges contemplates a investment greater than S/ 260 million in drilling, commissioning and reconditioning of wells.
In this regard, the general manager of PetroTalLuis Pantoja, specified that the budget approved for this year confirms the company’s desire to continue investing in Peru, despite the difficulties faced by the hydrocarbons sector and the country as a whole.
S/ 29 million for the social fund
PetroTal calculates a social investment of around S/ 68 million during 2023, of which close to S/ 29 million correspond to contributions to the Development Fund of the District of Puinahua, an initiative with which it seeks to finance projects for the benefit of the population of the locality where the Bretaña Norte field is located, as long as its operation and the transportation of its production do not suffer stoppages due to social conflicts.
In addition, the company will allocate around S/ 38 million to projects and social interventions carried out in Puinahua, such as erosion control, infrastructure construction, connectivity, promotion of agriculture, generation of electricity with solar panels, fishing and aquaculture projects, biodiversity preservation, among others.
Source: Larepublica
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