Exploration and Exploitation of Hydrocarbons in lot 64

Description

Through Supreme Decree No. 024-2021-EM, published on 09.28.2021 in the official newspaper El Peruano, the assignment of the participation of GeoPark Perú S.A.C. in the lot in favor of Petroperú S.A in the License Agreement for the Exploration and Exploitation of Hydrocarbons of Lot 64. In this way, the company assumes 100% of the rights and obligations of the License Agreement.

Lot 64 is located in the province of Datem del Marañón in the Loreto region. The objective of the Project is to produce the light oil reserves discovered in the Situche Central Field.
PETROPERÚ has started the preparation of the Development Environmental Impact Study (EIS) that allows the exploitation of oil in the lot. Once the EIA has been approved and the installation of production facilities has been completed, the Project foresees a modular execution scheme: the first phase will begin with early production from the Situche Central Field, estimating an initial flow of ten thousand barrels of oil per day. Subsequently, the second phase will begin, which includes the drilling of development wells to maximize oil recovery. Additionally, the drilling of an exploratory well is being considered, which will increase the reserves discovered in the deposit.

In accordance with its association business model for upstream activities, PETROPERÚ will soon make a call for potential operating partners interested in participating in a joint operation for the development and exploitation of the Situche Central Field and other potential geological structures present in the lot, within the current legal framework and with a socio-environmental responsibility approach.