Reactivation of the Loreto oil operation will allow the national oil production to be increased by 25%. It was also agreed to create a social fund for the surrounding native communities.
This Tuesday Perupetro and Petroperu signed the license contract for the exploitation of Block 192 for a term of 30 years.
In the first instance, it seeks to reactivate oil production at 10,000 barrels per day, after being paralyzed for two years; and for the second stage, invest US$630 million to drill 20 development wells and one exploration well.
From Perupetro they detailed that the reactivation of Block 192 — located in Loreto — will allow raising Peruvian oil production by 25%, bringing more income from royalties and canon transfers to the region.
It is expected that the production of hydrocarbons in this oil operation will go to the New Talara Refinery to improve the quality of fuel consumed in our country.
Social fund for native communities
A social fund for the native communities of the area was also established at the signing of the license contract, which will be 1.5% of the value of the controlled production in Block 192.
With this, the communities will have their own resources to manage their prioritized projects and improve their quality of life; added to the improvements in environmental matters to respect the area of influence.
It is worth emphasizing that there are 25 native communities, identified as Quechua, Achuar and Kichwa peoples between the Corrientes, Pastaza and Tigre river basins, which lie in Block 192.
Finally, they detailed that the hiring of preferably Peruvian labor will be guaranteed for the operations of Block 192 and the contractor and subcontractor companies will give opportunities to workers from the native communities located in the contract area.
Source: Larepublica
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