President Pedro Castillo arrived yesterday in Talara (Piura) for the reception ceremony of Lot I, located between the La Brea and Pariñas districts, which will be temporarily operated by the state-owned Petroperú for the next 22 months.
Although the production of this batch is small (540 barrels of oil per day), it represents, in the opinion of the Government, the historic return of Petroperú to exploitation activities, a process from which it was extracted during the privatization in the Fujimori government.
It is important to mention that, When Petroperú operated oil fields, national production as a whole reached a maximum of up to 195,000 barrels per day (BPD). In 1994, when the various assets of the state-owned company were dismembered, the average oil production for that year reached 128,000 BPD; while as of December 22 of this year, the average production is barely 38,419 BPD, a third of almost 30 years ago.
“Unfortunately, the privatization actions that we all know not only disintegrated, but also paralyzed the development of the state company to the detriment of the country,” he emphasized. Castillo.
He added that the purpose of his Government is to have a fully strengthened Petroperú that contributes to the development of the country. “Remaining as up to now as a self-sustaining company that acts responsibly with full economic, financial and administrative autonomy, without receiving funds from the State,” he said.
An announcement absent during yesterday’s ceremony, in which the Minister of Energy and Mines, Eduardo González; Mario Contreras, president of Petroperú and José Luis Balta, president of Perupetro, is the destination of the other lots located in the Talara basin, whose contracts are also close to expiring (see infographic).
Entry to other operations
In line with the strengthening of Petroperú, through vertical integration, Castillo mentioned that in the coming months Petroperú will operate Block 192, the largest in the country, and Block 64, both located in Loreto, and whose contracting processes are in progress. in process.
Block 192 has an average base production of approximately 10,500 barrels per day, and has been paralyzed since February this year, when Frontera’s temporary contract ended. To that extent, Petroperú was expected to assume these operations immediately, which has not happened.
It is worth noting that for him Lot 192 Petroperú’s previous administration signed an investment contract with Canada’s Altamesa, which, according to the current board of directors, has not been carried out in accordance with the law because the contract between Petroperú and Perupetro has not been signed. However, this contract would be signed in January next year, as reported by the oil company before the Energy and Mines Commission of Congress.
This operation is central to Petroperú and this was highlighted by the Head of State, underlining that the operation of lots 192 and 64 would ensure part of the crude required by the new Talara refinery -which today has an integral progress of 97% – for fuel production.
“In April of next year, the state company plans to start the safe and progressive start-up of this important complex, which will be one of the most important and modern in America, and which will allow the production, very close to this batch, of 95,000 barrels per day. gasoline, diesel and other low sulfur fuels. This measure will have a significant impact on the sale prices of the fuels that Petroperú will produce to supply the national market in the near future, ”Castillo highlighted.
Lot I is not a historical landmark
Carlos Gonzáles, manager of Enerconsult
In my opinion, it is not very serious to speak of a historical milestone for Petroperú to assume the operation of a 500-barrel batch for only 22 months. Under this condition, Petroperú will only be used to maintain the production of the batch, while an international tender is prepared to attract large companies. What will happen in 22 months with the laudable theory of the historical milestone because Petroperú will have its own crude oil? In month 23 he will have to pay international prices for that crude.
Nor does it seem serious to me to establish a royalty of 18.75% when the operator that was there until a few days ago paid a lower equivalent royalty. Does it make sense for Petroperú to pay for a batch of 500 barrels per day, more royalty than it will pay for Block 192?
Much less serious than applying the Factor R methodology in a 22-month contract, when that methodology is for long-term contracts. Honestly, can that make someone at Petroperú happy?
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Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
