The Peruvian government has approved an extension until May 2026 for the state-owned company Petroleos del Peru – Petropel SA to maintain the development of Lot Z-69 in the Department of Talara, Piura region.
he Supreme Decree No. 022-2025-EMAccording to a report, the current contract, which will be officially announced on November 14, 2025 and expires this Saturday, November 15, will be extended by up to six months. Ministry of Energy and Mines (MINEM).
However, contract extension means In addition to renewing the country’s favorable royalty regime, it also obligated PetroPeru to maintain a minimum controlled production of 3,045 barrels per day during the last month of expiration. The move comes after an international tender held in August failed, with no proposals received in the final round of maritime development.
Perpetro SAThe national agency responsible for negotiating and supervising hydrocarbon contracts announced a few days ago that the extension guarantees the continuity of the country’s energy supply and production, and that a new public tender is being prepared with the aim of finding a long-term operator.
he Lot Z-69Previously known as Z-2B, it was managed by Sabia Peru for 30 years until the contract expired on November 15, 2023, and the state temporarily transferred operations to Peru. petroperu.
The area was renamed after the integration of a new exploration zone adopted to facilitate the entry of private operators. Despite regulatory and operational changes, the attractiveness of the zone failed to attract oil sector investors, a scenario that forced an extension of state control.
According to data from Perpetrothe average lot production in October 2025 is 3,173 barrels per day. he Peruvian Petroleum Administrative Workers Union – Petroperu SA (STAPP) had publicly requested the promulgation of a decree extending the duration of the company’s existence on the premises.
Union Defense Secretary Pedro Castro Balmaceda denounced the “abusive and arbitrary treatment” of the state-owned company following the intervention of regulator Osinergmin, which ordered the closure of nine platforms in the second year of the concession. According to union officials, initial production has already reached its maximum capacity. 4,200 barrels per daybut the outage led to a decrease of about 1,000 barrels per day.
Current temporary administrative figures are limiting. petroperu We may invest in exploration and the search for strategic partners, which directly affects mining output and operational efficiency. This situation has been confirmed by the following authorities: Minem Documented in technical reports supporting extensions.
It concluded that “the project to modify the license agreement for hydrocarbon development in Lot Z-69 complies with the requirements set out in specific regulations.” MINEM Hydrocarbons Directorate It is described in technical report No. 057-2025-MINEM/DGH-DEEH and cited in the government ordinance.
The regulatory law bears the following signature: Jose Enrique Jeli Olewith the President of the Republic. Luis Enrique Bravo de la CruzMinister of Energy and Mines, and Dennis Azucena Mirrorless MirrorlessMinister of Economy and Finance.
The document warns that the extension period may end before May 2026 if a new contract is signed with another carrier, in which case it will be transferred immediately. According to the official forecast, Perpetro Aiming for the next international competition to find private operators willing to invest and promote development in the region offshore Located in the Talara Basin.
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