Double digit oil growth in Peru, gas output hits record

Crude production in Peru in November rose 13% sequentially to 37,875b/d after falling for two consecutive months.

The boost came from a 68% increase in output at PetroTal block 95 to 11,218b/d, information from hydrocarbons licensing authority Perupetro shows.

PetroTal recently reported higher output as river levels returned to normal after falling to record lows, which impacted the company’s oil shipments by barge to Brazil.

Other top producers in November were CNPC block X with 11,056b/d and Savia block Z-2B with 5,181b/d.

Production this year has averaged 40,573b/d compared with 38,391b/d in full-year 2021.

[insight#259047544]

Meanwhile, natural gas output rose for a fourth straight month and hit a record high of 45.1Mm3/d (million cubic meters) in November, up nearly 7% from October. 

Sequentially, Pluspetrol-operated Camisea blocks 56 and 88 saw November production increase nearly 10% and 3.5% to 11Mm3/d and 26.4Mm3/d, respectively. Repsol block 57 increased output 9% to 5.57Mm3/d.

The three blocks accounted for 95% of gas production in November.

Production in 2022 has averaged 37.4Mm3/d versus 31.2Mm3/d last year.

[insight#259047311]