Petroperú begins the process of incorporating a strategic partner for Lot 192

With the objective of putting Lot 192 into production and in accordance with Law No. 30357, Petroperú will continue with the process of incorporating Altamesa Energy Canada S.A.C. as a strategic partner for the joint operation of the License Contract for the Exploitation of Hydrocarbons in Lot 192.

To this end, Petroperú authorized the execution of the Agreement of Terms and Conditions for the Joint Investment in Lot 192 and Perupetro will be requested to initiate the qualification of Altamesa Energy Canada S.A.C., with the purpose of achieving its incorporation as a strategic partner of the aforementioned Lot. It should be noted that this company was selected as part of a proposal evaluation process carried out by Petroperú in 2021, as reported at the time.

As recalled, on February 28, Petroperú and Perupetro signed the License Agreement for the Exploitation of Hydrocarbons -for a period of 30 years- of Lot 192, considered the largest oil field in the country, with a total of technical reserves recoverable reserves of 127 million barrels (MMBO), as proven reserves of medium, light and heavy crude.

Lot 192 was granted to Petroperú by means of Law No. 30357, a rule that incorporated a Fourth Transitory Provision to Law No. 30130. In the aforementioned rule, Perupetro is authorized to sign the contract, after prior evaluation and through direct negotiation. of hydrocarbon exploitation of Lot 192 with Petroperú. Likewise, it authorizes Petroperú to convene, in accordance with the law, strategic partners and to carry out the necessary steps.

In this sense, after having passed legal and regulatory evaluations, the Terms and Conditions Contract for the Joint Investment in Lot 192 signed in August 2021, may continue its execution in order to reactivate oil activity in the Peruvian Amazon.

Lot 192

Lot 192 is located in the district of Andoas, province of Datem del Marañón, districts of Tigre and Trompeteros, in the Loreto region and has an area of 512,347,241 hectares, which includes what was Lot 1AB and incorporates additional areas for exploration.

This field is the one with the highest accumulated production in the Marañón basin, with 737 million barrels of oil produced, and is one of the highest-producing lots in the Peruvian jungle. Only between 2015 and 2020, a controlled production of 8.3 million barrels of oil was registered, generating an income for the State -from the sale of oil- for more than 98 million dollars.

Petroperú estimates restarting the production activities of this Lot in the first quarter of 2024, after completing the evaluation of its condition, as well as executing the corresponding rehabilitation of its infrastructure, after a long period of paralysis with wells closed and without production.