Government ensures arrival of Petroperú to lots I, VI and Z-2B of Talara in 2023

In compliance with the provisions of President Dina Boluarte and the Ministry of Energy and Mines (Minem) at the beginning of this year, the agency Perupetro confirmed that the state oil company Petroperú will sign the operation contracts in three of the five lots of Talara that this year are about to expire. This includes the continuity of its activities in Block I, in which it managed to almost double the daily production of Petroleum (bdp) in just over a year and a half.

According to figures that Perupetro provided to La República, These are blocks VI (2,800 bdp) and Z-2B (5,307 bdp), which will be added to Block I (500 bdp), where Petroperú will renew the contract. Left out are the 1,045 bop of the VII, which must be separated from the VI in this new distribution scheme, and the 105 bop of the V, with a marginal production that would require investments unfeasible for the state.

“There is a supreme decree, in progress, in which the operation of lots I, VI and Z-2B (today Z69) by Petroperú is declared of public necessity and national interest, so that said company can dispose of the production of hydrocarbons in this area at the end of their contracts”, detailed the Vice Minister of Hydrocarbons, Enrique Bisetti, before the Energy Commission congressional.

Previously, Minister Oscar Vera explained that the continuity of the operation will also be guaranteed in blocks II (421 bpd), X (11,000 bpd) and XV (28 bpd). For this purpose, the deposits with the highest production and that do not require risk investment will be operated directly by Petroperu.

“Under our technical and economic assumptions, the northwest lots are viable. Their participation would be profitable and with cash flows that would self-finance the investments required for the project, so they would not mean debt for the company,” Carlos Vives Suárez said in turn. , Chairman of the Board of Petroperú.

A central element, which was emphasized by the head of Petroperú, is that All working conditions will be respected, and all the workers of the operations where the state oil company will enter will be maintained. This will form part of a clause in the new contracts.

The Government’s position is unanimous. The head of Perupetro, Isabel Tafur, remitted that the negotiation of these contracts, which expire in November, will be carried out directly, and will not be affected by any term that is about to expire.

“We are working so that Petroperú can operate the contracts in blocks VI, I and Z-2B. We are solving some things, but these contracts will definitely be signed with the state company and the corresponding supreme decrees will be issued. This is guaranteed by Petroperú , Perupetro and Minem,” he said.

the jungle path

For the former president of Petroperú Humberto Campodónico, the unity of criteria between the oil company, Minem and Perupetro is a relevant fact in the recent history of hydrocarbons of the country because, since the company was privatized in the nineties, “it had not been able to enter the upstream due to the bad criteria of subsidiarity of the State”.

“It means a capital contribution, but not in the sense of cash, but of an improvement in flows that will help pay for the New Talara Refinery (NRT) in a company that is becoming vertically integrated with oil income,” he pointed.

This is not the only favorable confirmation for Petroperú, the company responsible for pushing fuel prices down compared to its only competitor, Repsol. According to Minem, the oil company will be able to start the exploitation of the 12,000 bpd of Block 192, located in Loreto, in October. With this, it would start operating more than 20,000 barrels of Peruvian crude in 2023, with the expectation of increasing its production and receiving more batches in 2024.

Oil horizon in the Peruvian sea

The oil potential of blocks Z-61, Z-62 and Z-63, in the La Libertad sea, would amount to 200,000 (bpd), according to Anadarko. These are prospective resources.

Regarding proven reserves in barrels, Block I maintains 4.5 million; Lot Z-2B, 25 million; and Lot VI/VII, 10.8 million. Perupetro must clarify the division of the latter.

Petroperu expects to pass its refining margin from US$5 to US$20 per barrel of crude with the NRT.

The effective putting into operation of Block 192 also depends on Petroperú being able to rehabilitate the route of the Norperuano Pipeline (ONP).

The word

Isabel Tafur, president of Perupetro

“The contracts expire in November and, as it is going to be a direct negotiation, we do not have any deadline close to expiration. It allows us to do the job we have to do.”