PetroTal Plans $83.5 Million Adjustment to Block 95 Drilling Program in Peru

en.Wedoany.com Reported - On August 31, PetroTal advanced the adjustment of the development plan for the Bretaña Norte oil field in Block 95, Loreto, Peru. The company has submitted a Technical Support Report (ITS) to Peru's National Service for Environmental Certification for Sustainable Investments (Senace), proposing to relocate four production wells originally planned for the L2 Sur platform to the already-constructed L2 Oeste platform, while converting three existing production wells on the L2 platform into produced water injection wells. The combined investment for the two projects is estimated at approximately $83.55 million.

Of this amount, the adjustment and drilling of the four production wells is estimated to cost $79.05 million. The adjustment involves four of the 32 production wells originally planned for the L2 Sur platform, which will now be implemented on the existing L2 Oeste platform, without increasing the number of wells previously approved in environmental documents or expanding the current footprint of the L2 Oeste platform. The L2 Sur platform has not yet been constructed or commissioned, with drilling originally scheduled to take place between 2028 and 2035. According to the schedule submitted by PetroTal, drilling for the four adjusted production wells is planned to begin in November 2026.

An additional $4.5 million will be allocated to the recompletion and functional conversion of three existing production wells on the L2 platform, transforming them into produced water injection wells. The related work is planned to be carried out in three phases between 2027 and 2028, with each well conversion expected to take approximately one month. The scope of work includes removing existing production tubing, wellbore adjustments, and establishing conditions for produced water injection. According to documents submitted by PetroTal, as of the end of June 2026, the Bretaña Norte oil field had a production potential of approximately 18,000 barrels per day, with actual output of around 11,000 barrels per day. Produced water injection capacity is one of the factors constraining the release of existing production capacity.

This adjustment is based on PetroTal's previously approved Bretaña Norte development expansion plan. Senace approved the detailed environmental impact assessment modification document for the project on March 18, 2026. The original plan involves an investment of approximately $260 million, including adding 8 wells at the L2 platform, 8 wells at the L2 Oeste platform, and constructing the new L2 Sur platform to drill up to 40 wells—32 production wells and 8 water injection wells—along with the expansion of central processing facilities and related supporting infrastructure.

PetroTal is simultaneously resuming development drilling in Block 95. According to the plan the company published in July, development drilling at the Bretaña field is scheduled to resume in October. The field's average production in the second quarter of 2026 was 12,190 barrels per day. PetroTal's group average production in the first half of the year was 13,726 barrels per day, approximately 3% above budget, and the company has included second-half development drilling in its capital plan.