In February, the Ministry of Energy and Mines (Minem) announced that 100% of the Talara oil blocks would be reverted to Petroperú. A month later, President Dina Boluarte ratified this decision in Piura and guaranteed the supply of crude oil to the New Talara Refinery (NRT) for the sake of a modern hydrocarbons industry.
For this reason, the statement of the manager of Technical Resources of Perupetro, Asaid Asabach, about the bidding for lots V (GMP) and VII (Sapet) before completing their contracts in October, drew the attention of specialists in the sector. “Here there is an inconsistency regarding the country’s oil policy, but not from the Executive, but from Perupetro, which is not aligned with what was designed by Minem,” says Aurelio Ochoa Alencastre, former head of the agency.
He explains that the initial cost to assume the entire northwest basin would not be significant compared to what is paid to buy Peruvian oil at international prices. Especially since they are lots in operation. Production in Talara is around 22,000 barrels per day (bpd). Lot V offered to private parties is marginal. It barely produces a few 105 bpd, compared to the 5,307 bpd of the Z2B, promised to Petroperú. The case of VI/VII is not clear, which, if the bipartition suggested by Perupetro is fulfilled, would distribute 3,563 bpd between two contracts.
Petroperú: New Talara Refinery continues to operate normally despite heavy rains
Fitch recognized this month an economic improvement for Petroperú with the NRT towards the third quarter of 2023, but after a period of operating losses due to the consumption of crude oil in the gradual start-up and the depreciation of equipment that, little by little, it is receiving. Therefore, ensuring the flow of oil colors is crucial. “In the eyes of foreign investors, it has negative repercussions, because the apparent double discourse generates mistrust in the energy policies of the Peruvian State,” he says.
Data
Wells. At 10,000 bpd, Block X is the largest of talara. His lease expires in 2024. Rent. Minem estimates annual profits of more than US$1 billion in the entire northwest basin.
Source: Larepublica
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