Petroperú would pay 40% more to acquire their own oil after losing Talara lot operation

Lot and VI, located in Talara, were awarded to the company La Ponderosa Energy, which was accompanied in two consortiums by the real estate the legends SA and Chien Mau SA in this way, Petroperú It will no longer continue to operate in these oil deposits as it was doing through temporary license contracts that expire in October of this year.

The bidding process was directed by Perupetro, which evaluated the economic offers of each of the companies before announcing the winner of the good Pro. Although the aforementioned consortium does not have concrete operational activities and its associated companies have no history in the hydrocarbons sector, it was positioned above other competitors by offering a greater amount of reconditioning of oil wells and drilling of development wells.

Precisely, the former president of Petroperú Carlos Vives said that the volume of wells proposed by the Ponderosa Energy should be reviewed, which exceed almost 10 times more to what is stipulated in the bases of the bidding process. To show a button: while PERUPETRO It has established a minimum program of 32 development wells in Lot I, the winning company offered 307.

“The same thing has happened in lot. The state company requires 71 development wells, while the winning company offers 607, that is, 10 times more. If we compare the reserves versus the wells that are going to pierce, they will not square them. That catches my attention, ”he said.

For his part, Aurelio Ochoa, former president of Perupetro, noted that one of the main implications of this change of command in the operation of lots I and VI, is that Petroperú will lose income because the exploitation of these fields was giving him a rent. In addition, it will no longer be able to acquire the raw material at production costs, but will buy crude oil at an international price that, today, is at US $ 70.7 per barrel, but that can reach US $ 100/barrel as in 2022 when it began The invasion of Russia to Ukraine.

“This implies more or less 40% more than what it costs Petroperú to acquire oil at the production price. So, it is unfavorable because now you will have to buy all your production at an international price, being able to do it at production costs. That has been done by all countries, including Colombia, ”he emphasized.

Talara lots: it is not risk investment

Currently, the average oil production in lot I reaches 465 barrels per day, while, in the case of lot VI, it is 1.946 BPD. Both lots have been operated by Petroperú since November 2023 through temporary contracts.

In this regard, Alejandro Narváez, president of Petroperú, had expressed his public interest that the deposits are maintained under the control of the state oil company.

But, this will not happen. The consortium led by the Ponderosa Energy has won the good pro of the lots I and VI, although it must overcome the qualification process of PERUPETRO before the decree for the signing of the contract is issued. Months ago, this same company signed a technical evaluation agreement to expand geological information of the Madre de Dios basin.

Regarding this bidding process, the Minister of Economy, José Salardi, had expressed during a press conference the importance of private operators being interested in betting on a risk investment. It happens, however, that Talara’s lots are producing, therefore, they have no risk. Aurelio Ochoa adds that this will not imply an attraction for companies of another size, since they are small lots.

“That is a Chinese story. The only thing that is required is an exploratory well in 30 years. So, this will not attract size investors. For that, there is lot 64 or lot 192. Instead, lots like those of Talara have a small production, but for Petroperú, the aggregate is added and helps to recover. Now, you will not have that oil at a cost price, ”he said.