After 74 days of stoppage of the Norperuano Pipeline (ONP), PetroTal today is producing an average of 20,000 barrels per day. This, after the storage restrictions that remained after the reopening of Station 5 were lifted, which forced it to reduce its production to 5,000 barrels per day between December 16, 2021 and January 9, 2022.
“In the fourth quarter of 2021, there were only five days when we produced, on average, more than 20,000 barrels. A figure, which we have resumed this year after a wait to be able to transfer the crude oil stored in Station 1 to Station 5. This reveals that if social peace is achieved with the support of the State, 2022 could be a great year for oil activity in the Amazon, which will ultimately have a direct impact on the surrounding communities in particular”, commented Manolo Zúñiga-Pflucker, CEO of PetroTal.
The company closed the fourth quarter of 2021 with an average production of 10,147 barrels per day. An increase of 7% in its quarterly production, with respect to the previous quarter.
Likewise, compared to 2020, annual production showed an increase of 58%, going from an average of 5,672 barrels of oil per day to 8,966.
It should be noted that, due to the continuous stoppages in the ONP, the company found it necessary to find commercial solutions that would allow it to continue operations, which is why it began exporting oil through Brazil. During the fourth quarter, it exported 330,000 barrels in total. In November 2021, a new contract was signed to deliver 240,000 barrels per month via Brazil during this year.
Petrotal reported that by 2022 it was proposed to increase the company’s budget by S/ 525 million. However, it continues to be evaluated by the board of directors due to the social conflicts that persist in the area.
However, the company has proposed the modification of the Petroleum Canon and Surplus Canon Distribution Law, and the creation of a Social Fund to provide 2.5% of the value of controlled production to be administered through a trust, which serves for the development and execution of projects for the benefit of all the populations of the Puinahua district, where Block 95 is located.
“It is necessary for the State to urgently address the legitimate demands of the population to avoid social conflicts that could paralyze our operations,” said Manolo Zúñiga.
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