Finally, President Dina Boluarte put an end to a fierce campaign orchestrated by the private sector that sought to leave Petroperu out of the race, and signed the two supreme decrees that authorize the oil company’s return to large-scale upstream in Talara, with the reversion of lots I and VI.
In a joint ceremony with regional authorities of Piura, the Ministry of Energy and Mines (Minem) and Perupetro, the head of state specified that the 24-month appointment is carried out in strict compliance with the law, while preparing a competition that calls for the “highest bidders in the world”.
“This must be a new model of social responsibility that helps prevent more conflicts. We are also working to reactivate the jungle lots. Thus, we confirm that together we can achieve great progress and take on fundamental challenges for the development of a fair and strong country,” Boluarte highlighted.
Pedro Chira Fernández, president of the board of directors of Petroperú, highlighted that the supply from both fields will serve to feed the New Talara Refinery (NRT) and alleviate the company’s accounts.
“Today there is fertile life in Talara. Of 100% hydrocarbons that their fields have, only between 6% and 9% have been removed from below, telling their entire history since 1900. There is technology for mature fields like these,” he revealed.
Our oil
In turn, the head of Minem, Óscar Vera, highlighted that the current management has prioritized the strengthening of Petroperú, “a fundamental company in the development of the country and energy security.”
“We estimate an operating cost of US$30 per barrel that will help Petroperú have competitive prices in the fuel market, which will gradually reduce the purchase of hydrocarbons and will contribute to banishing the idea that the State is not efficient”Vera stressed.
Finally, the president of Perupetro, Isabel Tafur, reported that the license contracts in lots I and VI include a new social supervision scheme and the contribution of 1.5% of the valuation of controlled hydrocarbons for the execution of projects in favor of the population, among other clauses.
The vertical integration of Petroperú
These are two operations that jointly produce more than 2,500 barrels per day (bpd). The global price of each barrel is around US$90 due to the war in the Middle East.
Petroperú is a company that in the last 7 years has generated contributions for more than US$9 billion through taxes.
The NRT’s capacity is up to 95,000 bpd and through the refining margin, profits of US$624 million are projected each year.
Petroperú is the only buyer of oil in Talara. It has done so for the last 30 years at international prices. The reversal will allow you to obtain a greater profit margin.
Reactions
Dina Boluarte, president of the Republic
“One of the objectives of my Government is to obtain the best conditions of exploitation and care of our resourcesso that both the population and operators benefit.”
Pedro Chira Fernández, president of Petroperú
“For Petroperú it is no mystery to return to monitoring an oil field. We’ve done it forever“We just did it in Lot I, increasing production.”
The numbers
- The State has spent $11.6 billion to buy crude oil from Talara since privatization.
- US$25.2 million each year is the savings with Lot VI.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
