Lot X: Petroperú and De Jong will double production in the next 4 years

Petroperú’s return to Lot

Although there were 30 years of privatization to finalize the details of the agreement, the transfer decree with the signature of President Dina Boluarte was published against time, as happened with the Lot V from GTG from October last year.

Both the outgoing operator (the Chinese company CNPC), Perupetro and the Petroperú-De Jong companythey expected the decree for 3 pm, but it arrived more than six hours later, so the contract was signed at 11:00 pm on Sunday the 19th.

The crude oil will be exploited by the OIG Perú SAC group, created by the Offshore International Group consortium, Aguaytía Energy del Perú, and Termoselva; Meanwhile, Petroperú will contribute with technical contributions and approve annual budgets. The state company will pay for 40% of the project – it includes 40% of the royalties – and will benefit from 40% of the income. Between the remainder of May and June, the costs to operate Lot X would amount to US$5.5 million.

What’s the plan? An investment by the private partner of US$800 million to drill 1,144 development wells and two exploratory wells between the third and tenth years.

Although Petroperú sets the potential production of Lot

Now it’s the jungle’s turn

There is a consensus that Lot X will provide a positive EBITDA of between US$80 and US$90 million to the oil company each year. However, since Petroperú does not have its operations divided by business units, these income will be liquefied with the losses from the damaged refinery.

The income should be substantially higher than that of lots I, VI and Z-69, in the hands of Petroperú. Perupetro sources indicate that in these other three lots the participation process for their transfer already began last March.with a view to announcing the official launch, separately, between June and July.

It is expected to have the operator for each of the three lots about four months before their contracts end. Petroperú could also participate.

“When was the contest of the Lot“They had the power to give up 40% and go for 100% but their board only approved that,” said another source.

Petroperú expects to produce 5,000 bpd in Lot 192 in December, with Altamesa. Thus, between its five lots (one in the jungle, four in the northwest) it will reach 14,000 bpd, discounting what corresponds to its partners. Furthermore, it will allow national production, along with all the other active lots from Peruclose 2024 at 47,000 bpd, and that Talara’s production will break 28,000 bpd this year.

Lot X: closing of a chapter in Talara

Offshore International Group INC, Aguaytía Energy del Perú SRL, and Termoselva SRL have the North American De Jong as their parent company.

There is still no certainty under what conditions CNPC reverted the lot to the Peruvian State. De Jong will be in charge of ensuring its full functionality.

Lot X will have a Social Development Fund, intended for the execution of projects that directly benefit the population located in the area of ​​influence of the field.