The contractor will have to reactivate 55 producing wells and recondition 21 wells.
Perupetro and Upland Oil and Gas LLC signed a four-year temporary license agreement for the exploitation of hydrocarbons in Lot 8 (Loreto).
In detail, Upland Oil will have a pre-operational period of 120 days to restart operations; and after that date, In 14 months, it will have to reactivate 55 producing wells and in the first 24 months, recondition 21 wells. This will require a total investment of US$54 million.
It is worth adding that Lot 8 stopped operating due to the pandemic and the operator Pluspetrol Norte declared corporate liquidation.
Likewise, the agreements of the Prior Consultation process held with 44 native communities in the area of direct influence of Lot 8 are incorporated into the temporary license contract.
It also establishes the hiring of local labor and the provision of goods and services, in addition to a community relations protocol in order to maintain a harmonious and beneficial relationship with the communities.
Source: Larepublica
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