Perupetro will initiate the transfer of Lot X de Talara —which occupies 70% of the oil production in the northwest— in the third quarter of 2023, as confirmed by the president of the state agency, Isabel Tafur, in dialogue with La República.
According to the new approach of Perupetro, the contract must be designed so that Petroperú has some participation, although it did not confirm how much this would be. At the moment, the deposit is under the power of the Chinese CNPC until May 2024.
“Petroperú will have a stake, but at this moment nothing is yet defined. We still do not have the whole picture, but In September we will begin to do the evaluations.s,” said Tafur Marin.
With an average yield of 9,008 barrels per day (bpd) of crude at the end of last April, Block X is the largest in the basin. However, since it was privatized, only one exploratory well has been dug. According to PerupetroTalara’s joint production has declined as operators prepare for their exit.
Regression. Lots of Talara will be in private hands for 60 years, according to the Government. Photo: diffusion.
The energy specialist Humberto Campodónico reports that the Lot X represents a going concern that could deliver annual ebitda of up to US$200 million with a 100% interest.
In Congress, a law is even being cooked up to revert all hydrocarbon deposits to Petroperú once the contracts expire. If this were the case, the president of the state company, Pedro Chira, told a local media that he “would not be in a hurry” to look for partners in Lot X. Own resources would suffice.
For his part, UNI professor Alexei Huerta explains that the drafting of the new terms of reference could take up to six months from September. A participation greater than 40% would be ideal.
“Then, the transfer should take place in two or three months. It’s something that hasn’t happened here, but transferring such an important asset should involve accompanying Petroperu with CNPC to the last quarter of the contract”, he points out.
Petroperú in pursuit of Lot X
According to the qualification regulations, Petroperú meets the “economic subject” requirements to enter talara.
According to Perupetro, the state company today enjoys the necessary resources to return to the upstream oil business, since it has an average residual equity of US$1.9 billion in the last three years.
Source: Larepublica
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