PetroTal begins drilling in Lot 95: new energy opportunities and challenges.

The recent activity of PetroTal in Lot 95 has generated expectations both in the energy sector and in local communities. The Canadian-capital company has begun drilling its well 20H in the Bretaña field, a phase that could redefine its development strategy in the region. This well has the particularity of evaluating and testing for the first time the upper formation sand Vivian (VS1), alongside the main Vivian 2 sand (VS2). So far, PetroTal's focus had been exclusively on the exploitation of the VS2 sand, which has higher permeability and, therefore, more efficient production. However, the discovery of the production capacity of the VS1 sand has opened up new possibilities. According to estimates from Netherland, Sewell and Associates, the two sand bodies in the Vivian formation contain a total of 442 million barrels of 2P reserves, of which 20% corresponds to VS1. This suggests that the untapped potential in this sand could be significant. The initial test in well 20H has shown promising results, with a flow of 320 barrels of oil per day from the VS1 sand during a brief evaluation. This data is crucial, as it will help the company decide whether to modify its current development plan, especially regarding future reserve certifications. The inclusion of VS1 could, if its effectiveness is confirmed, enhance the sustainability and profitability of operations in the field. Manuel Pablo Zúniga-Pflucker, president and CEO of PetroTal, has expressed that production from VS1 could not only increase the company's reserves but also contribute to reducing operational costs and extending the well's lifespan. This focus on resource optimization is critical in a context where companies seek to maximize their performance amid a volatile oil price environment. Additionally, the company has submitted a modification of its environmental impact study to the National Service of Environmental Certification for Sustainable Investments (Senace). This modification aims to create a new drilling platform, which will require an estimated investment of 260 million dollars. With this investment, PetroTal aims to drill 32 producing wells and eight water injectors, which could increase crude production to 50,000 barrels per day. PetroTal's strategy not only focuses on extraction but also on water management, a critical resource in oil operations. The potentially low production of water volumes in the VS1 well could eliminate the need to build new facilities for treating this resource, representing significant savings and improving operational efficiency. Since its production start in June 2018, PetroTal has rapidly scaled up to become the largest crude oil producer in Peru by early 2022. This growth has not only benefited the company but has also contributed to the local economy, generating employment and development in a region that has historically faced challenges in terms of infrastructure and services. The development of the Bretaña field and the exploration of new reserves mark a milestone in the history of the oil industry in Loreto. However, it also raises questions about the balance between resource exploitation and environmental sustainability. The community and shareholders will be attentive to how PetroTal manages these dynamics in the coming months. In summary, the activity in Lot 95 not only represents a growth opportunity for PetroTal but also has the potential to influence Peru's energy landscape and the lives of nearby communities. If the company can effectively implement its plans, it could set a new precedent in the industry, combining economic development with environmental responsibility.