PetroTal moves forward in Lot 95 with ambitious oil production plans.

The recent activity of PetroTal in Lot 95 of Loreto marks a significant milestone in hydrocarbon exploration and production in the region. Since July 2024, the Canadian capital company has been drilling well 20H in the Bretaña field, a project that has generated expectations in both the business and environmental arenas. This operation is not limited to exploiting existing reserves but also opens the door to evaluating new sand formations that could have a considerable impact on the company's future production. Well 20H is designed to conduct tests in two sand formations: the Upper Vivian (VS1) and the Main Vivian (VS2). To date, PetroTal has focused its attention on exploiting the VS2 sand, which has been noted for its higher permeability. However, preliminary data from VS1 have revealed a flow of 320 barrels of oil per day during a brief test, suggesting that this formation could be more productive than previously anticipated. According to estimates from the consulting firm Netherland, Sewell and Associates, Inc., 20% of the proven and probable reserves in the Bretaña field come from the VS1 sand. This presents an opportunity for PetroTal to modify its current development plan and consider including this formation in future reserve certifications. The possibility that the VS1 well could operate with low water volumes also eliminates the need to build new facilities for treating this resource, which could positively impact operating costs. PetroTal's President and CEO, Manuel Pablo Zúniga-Pflucker, has emphasized that production from the VS1 sand could not only add to existing reserves but also enhance the well's lifespan. With a clear strategy to extend production and reduce costs, the company appears to be in a favorable position to strengthen its presence in the Peruvian oil market. In this context, PetroTal has submitted a modification of the detailed environmental impact study (MEIA-d) to the National Service of Environmental Certification for Sustainable Investments (Senace). This request includes the addition of a new drilling platform, involving an approximate investment of 260 million dollars. The proposal includes drilling 32 production wells and eight water injectors on the L2-Sur platform, as well as eight wells on L-2 and another eight on L-2 Oeste. This ambitious plan aims to increase crude oil production to 50,000 barrels per day, as well as manage water production at 800,000 barrels daily. Implementing these measures could not only enhance the company’s profitability but also contribute to more efficient management of water resources in the area, which is critical in a context of growing environmental concern. Since it began oil production in June 2018, PetroTal has shown steady growth, and by early 2022, it became the largest crude oil producer in Peru. This growth has been driven by a clear exploration and production strategy, which is now complemented by the possibility of diversifying its approach towards new sand formations. However, the oil industry faces increasing scrutiny regarding sustainability and environmental responsibility. PetroTal's actions, especially concerning environmental management and their impact on local communities, will be closely monitored by stakeholders and civil society. As these plans develop, it will be essential for PetroTal to maintain open and transparent communication with its shareholders and the local population. Trust in the company's operations depends not only on economic results but also on its ability to operate responsibly and sustainably in one of the most biodiverse regions on the planet.