Canadian-owned company Petrotal predicts that oil production at its Lot 95 Brittany field in Loreto, Peru, will decline significantly by 2026.
The company estimates that it will reach the next period. 12,000 barrels/day and 15,000 barrels/day (1 barrel of oil daily) This corresponds to a reduction of up to 50% compared to the maximum amount recorded in the recent period. According to information gathered by , this forecast is in response to operational challenges and declining international oil prices. Infobae Peru.
We are talking about the most relevant oil company in this country. In the first quarter of 2025, Petrotal achieved a record 23,280 barrels per day in its flagship field, Block 95. It previously peaked at 25,218 barrels per day in the second quarter of 2022, according to data collected by . Infobae Peru. However, the latest forecasts suggest that production could fall to almost half of potential by 2026.
Our President and Chief Executive Officer (CEO) is Manolo Zuniga“While our third quarter financial and operating results remain strong, we are facing drilling rig delays and lower oil prices, which will impact next year’s budget and planned production,” the company said in a statement. Production targets will be reviewed in January 2026 depending on market and investment progress.
Domestic crude oil production is Peru It has now exceeded 45,000 barrels/day According to data from Perpetro First 10 months of 2025. Petrotar This result is central because its activities account for more than a third of the country’s total water pumping. If the planned cuts materialize, partial cuts will be critical to the domestic oil market.
Regarding the current results, Petrotar The average production amount for July-August-September 2025 is 18,414 barrels/day and sale 18,028 barrels/day. Most of the oil extracted is lotto 95the average is 17,938 barrels/dayThis represents a 21% increase compared to the same quarter in 2024.
The rest of the production is los angeles field of lot 131Acquired in December 2024 after acquiring . Cepsa from Peru Managed through subsidiaries Ukawa Energy SACHowever, this year it contributed an average of only 500 barrels per day. Most of the shipments Petrotar depart by barge Brazilas stated by the company itself.
In addition to adjusting the projection, Petrotar reported the progress of Lupuna projectThis includes the construction of steel breakwaters to control marine erosion. brittany fieldIn partnership with Puinawa District Municipality. “A breakwater not only prevents erosion, but also creates the necessary conditions for the development of social infrastructure in the area,” he explained. Zuniga.
Regarding tax revenue, in 2025 Puinawa District Municipality received S/22.4 million Equal to the resources transferred in 2024 for the oil canon and surplus canon. These funds will be managed according to new rules loretoAccording to , financial infrastructure is functioning and contributing to reducing social disparities in the region. Ministry of Economy and Finance.
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