The Peruvian Government and Petroperú will sign today the hydrocarbon exploitation license contract, for up to 2 years, in the Lot-69formerly Lot Z-2B, after successfully receiving and increasing production in lots I and VI, also in Talara.
Contrary to the original project, the state oil company will enter Lot-69 without a partner, because The two-year temporary contract prevents him from generating a return from offshore exploration tasks.
The commitment with Perupetro during these two years is to carry out five workover jobs in old wells, that is, opening sands that were not done at the time to put them into production. It is the only investment commitment.
Petroperú sources confirmed that the negotiations with the personnel and contractors of Sap (operator since 2009) are at an advanced level, and should be closed by Wednesday, since at 00:00 on Thursday the lot passes into the hands of the state company. For this purpose, a team led by the engineer Javier Arizola Puelles He has met since last week with the former operator at his headquarters in Negritos.
The company receives the lot with 4,800 barrels per day (bpd) and 13.6 billion cubic feet of gas (MMPCD). In the case of the latter, it will continue to provide it to Savia’s clients, including Gasnorp and Petroperú itself: Procesadora de Gas Pariñas (PGP) sells the gas for the New Talara Refinery.
Likewise, the operation of the three fields would mean a favorable EBITDA for the company of US$80 million each year, taking into account conservative prices that are around US$85 per barrel.
Lot VI at full steam
When the Ministry of Energy and Mines (Minem) announced its intention to revert the Talara lots to Petroperú, after 30 years of privatization, it was warned that barrel production in the northwest could be paralyzed or even decline due to an alleged lack of resources and professionals.
Nothing is further from reality: The state oil company received Lot VI on October 22 with 1,964 bpd and 3,429 MMPCD of gas. Only until November 6, production reached levels of 2,003 bpd and 3,724 MMPCD of gas, and continues to rise.
The commitment of the Work Program established in the License Agreement for Lot VI refers to the execution of 10 workovers in existing wells.
Operating profit for Petroperú
It is estimated that in the operation of the Lot VI Petroperú will obtain an annual operating profit of around US$26.5 million, while in Lot-69 it would reach US$26.3 million.
Petroperú confirmed that the collection process for the machinery returned in “scrap” condition by Savia will continue in parallel.
Source: Larepublica
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