Petroperu returns to crude oil production in suspended main oil block | – #Petroperu #returns #crude #oil #production #suspended #main #oil #block
LIMA, Feb 28 (Reuters) – Peru’s state oil company Petroperu signed a license agreement on Tuesday to return to crude oil production, starting with one of the country’s largest oil blocks, and will invest 638 million euros in new oil development in the area. dollars plans to invest. wells.
Petroperu 2015-2020It will take over Block 192 in the Amazon bordering Ecuador and operated by Canada’s Frontera Energy Corp ( FEC.TO ). It has been inactive since then.
The agreement was reached after the state oil company announced plans to return to crude oil production. A wave of privatization in the 1990s left it with only refining and fuel marketing businesses.
“This is a fundamental step to strengthen Petroperu’s vertical integration,” Energy and Mining Minister Oscar Vera said in a statement after the signing of the contract, which will allow the firm to operate the block for 30 years.
Latest UpdatesStorage categoryOil as Chinese factory raises demand forecast prices rising, article with imageGrid and Infrastructure category Chevron CEO doesn’t rule out consolidation among oil majors, image article
See 2 more stories
per day at the beginning of the project 10 000 barrels of crude oil will be produced, he added, with refining taking place at the new Talara refinery, which restarted operations in early February.
In a separate statement, the oil regulator said that 2015-2020Restarting block 192, which produced approximately 8.3 million barrels of oil between national will increase crude oil production by 25%.
The regulator added that Petroperu’s planned 638 mln dollars investment during the contract period 20 will serve the development of a production well and an exploration well.
The announcement comes despite opposition from some of the twenty-five indigenous Amazonian communities living around the oil field to extracting crude oil in the region.
They claim that production is polluting their land amid constant leaks from an oil pipeline that carries oil from the jungle to the Petroperu refinery on the country’s Pacific coast.
Reporting by Marco Aquino; Written by Isabel Woodford; Edited by Chris Reese
Our standards: Thomson Reuters Trust Principles.
2023-03-01 07:18:33
Source – reuters
Translation“24 HOURS”