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Data Snapshot: Peru crude, gas output falls for consecutive month

Bnamericas Published: Friday, May 08, 2020
Data Snapshot: Peru crude, gas output falls for consecutive month

Latest numbers from Peru reveal that oil and natural gas production in April dropped for a second consecutive month as depressed pricing and COVID-19 continue to impact upstream operations.

In a publication by foreign trade association ComexPerú, Jannine Delgado, hydrocarbons sector manager at local mining, petroleum and energy industry group SNMPE, highlighted that the average breakeven price plus royalties for the 26 production contracts in Peru was US$39/b.

Last month, crude production fell 9% to 45,801b/d from March and slid nearly 15% year on year, according to information from hydrocarbons licensing authority Perupetro.

The top oil producers in April were CNPC block X (13,238b/d), PetroTal block 95 (11,400b/d) and Savia block Z-2B (6,554b/d).

Natural gas output decreased 12.5% sequentially to 22.4Mm3/d and dropped nearly 30% with April 2019.

April’s main gas contributors were Pluspetrol block 56 (11.2Mm3/d) and 88 (5.05Mm3/d), and Repsol block 57 (5.21Mm3/d).

The production of NGLs in April totaled 73,807b/d, up 2% sequentially and down 3% year on year. The top NGL producers were blocks 88 (35,433b/d), 56 (24,125b/d) and 57 (12,576b/d).

Perupetro’s pre-coronavirus production targets were 70,000b/d of crude for this year and in 2023: 100,000b/d of crude, 42.5Mm3/d of gas and 96,495b/d of NGLs.

In recent days, the energy and mines ministry approved criteria to be applied for the resumption of activities in the hydrocarbons, energy and mining sectors, after the government authorized the gradual renewal of economic activity this month.

Read Peru approves sanitary protocol for mining, energy and hydrocarbons sectors

2018 GDP = 100 (Source: Moody's Investors Service)

Photo credit: Perupetro

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