Major Peru oil producer in talks to expand Brazil dispatch

PetroTal, one of Peru’s top crude producers, is in discussions with the trading company it uses to export through Brazil to increase shipments. 

“I am hopeful we can announce in the near term such a possibility and in such a way that then more than half of the production will be going east,” PetroTal president and CEO Manolo Zúñiga said during the operator’s third quarter results presentation. 

Last December, PetroTal reported the first export of crude from the Bretaña field at block 95 through Brazil under a deal with Novum Energy Trading to open a new option to monetize oil sales. 

The Brazil route has allowed PetroTal to maintain production during disruptions to operations of the Norperuano oil pipeline. 

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In 3Q21, PetroTal dispatched one shipment to Brazil for 226,000b and 300,000-350,000b are expected to be exported through this corridor in 4Q21.

This month through November 16, PetroTal averaged 10,187b/d from block 95, making the company the second highest crude producer in Peru after CNPC block X with 12,606b/d, according to hydrocarbons licensing authority Perupetro. Countrywide output in the period was 38,904b/d. 

The latest financial and operating results for PetroTal, which also holds block 107 in Peru, are available here.

Source: PetroTal