Oil production in Peru reached an average of 46,804 barrels per day (b/d) in January, surpassing the 43,023 b/d of the same month in 2023 and the 44,289 b/d of December. According to data from Perupetro, this figure represents the highest volume recorded in January in recent years.
The Amazonian Block 95, operated by PetroTal, led production with 22,358 b/d, equivalent to 48% of the national total and reflecting an 8.5% increase compared to the previous month. Other prominent production blocks were Block X with 7,896 b/d and Block Z-69 with 3,709 b/d.
In annual terms, the average oil production in 2024 stands at 40,631 b/d, compared to 38,700 b/d in 2023, consolidating growth in the sector.
Drop in natural gas production
On the other hand, natural gas production in January suffered a notable drop, recording an average of 32.6 million cubic meters per day (Mm³/d), compared to 42.4 Mm³/d in the same month in 2023 and 37.8 Mm³/d in December.
This reduction is partly due to the seasonal decrease in gas use in electricity generation plants, as the rainy season increased hydroelectric production. In addition, the government declared a supply contingency in January, after heavy rainfall damaged the Camisea gas transportation infrastructure.
Blocks 88, 56, and 57, the country’s main gas producers, recorded year-on-year drops of 8.4% (18.3 Mm³/d) and 22% (5.56 Mm³/d), affecting overall supply.
Perupetro leaves remote monitoring call deserted
In an attempt to improve the monitoring of upstream operations in the northwest of the country, Perupetro launched a call for the implementation, operation, and maintenance of a remote data transmission system. However, the tender was declared deserted, which leaves uncertainty about the technological optimization plans in hydrocarbon production supervision.
A panorama of contrasts for the sector
While oil shows sustained growth, reaching its best performance in years, natural gas production faces challenges due to climatic factors and infrastructure problems. The sector’s expectations will depend on the evolution of these factors and the strategies adopted by authorities and companies to ensure the stability of the energy supply in the country.
What does this mean for Peru’s energy sector?
The increase in oil production could strengthen Peru’s position as a hydrocarbon producer, which could have a positive impact on the country’s economy. However, the drop in natural gas production poses challenges for energy supply, especially in the electricity generation sector.
How will this impact the market?
The Peruvian energy market will experience a dynamic of contrasts, with growth in the oil sector and possible volatility in the natural gas supply. The need to ensure the stability of the energy supply could drive investment in infrastructure and the adoption of new technologies.
The lack of a remote monitoring system could affect technological optimization in hydrocarbon production supervision.
Sources: BNamericas, Perupetro.
