en.Wedoany.com Reported - PetroTal plans to resume development well drilling in the Bretaña field of Block 95 in Peru starting October this year. The company's President and CEO, Manolo Zúñiga, confirmed during the Perú Energía 2026 event that this year's drilling plan includes two new wells, with operations continuing into 2027, aiming to boost production again to over 20,000 barrels of oil per day (bopd).
As of the end of May, PetroTal has produced a cumulative total of over 32 million barrels of crude oil. The average production in the first quarter of 2026 was 14,907 bopd, maintaining its position as the country's largest crude oil producer. This year, the company expects an average production of 12,000 bopd. Manolo Zúñiga explained that delays in approving the Detailed Environmental Impact Study Amendment (MEIA-d) for Block 95 affected investment progress; the amendment was approved in March this year, after nearly three and a half years. He emphasized that the industry needs to meet deadlines on time.
Manolo Zúñiga also highlighted the potential of the Los Ángeles field in Block 131, operated by Ucawa Energy with technical support from PetroTal. He stated that the field has favorable drilling conditions to confirm additional reserves and optimize oil recovery rates.
Through the so-called 2.5 Fund, PetroTal allocates 2.5% of the production value from the Bretaña field to fund development projects in the Puinahua district of the Loreto region. Manolo Zúñiga believes the fund has significantly improved the quality of life for local residents, but he called for converting it into a permanent fund, following the example of Alaska. He urged the fund's management and advisory committees, composed of representatives from the entire region, to approve a savings mechanism to reinvest a portion of resources with a long-term perspective. He cited the Alaska Permanent Fund, which currently manages over $89 billion and generates dividends for its residents, established almost concurrently with the start of oil activities in Loreto. Both regions have similar populations, indigenous communities, and abundant natural resources. As of the end of May, PetroTal's cumulative contributions to the 2.5 Fund exceeded 115 million soles.
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