|
Petrotal Corp on Monday left annual production guidance unchanged despite ongoing disruption at its Bretana oil field in Peru. In response, shares in the Calgary, Canada-based oil and gas development company focused on Peru were up 0.8% at 33.00 pence each in London on Monday morning. Petrotal said Bretana output is temporarily being impacted by technical issues, with four wells currently shut-in due to leaks in production tubing. The company has a 100% working interest in the Bretana Norte oil field in Peru’s Block 95, where oil production started in June 2018. Group production has averaged 18,805 barrels of oil per day in the the third quarter of 2025 to date, including 16,750 bopd in the first two weeks of September, the firm said. The impact of the disruption is currently expected to be below 1,000 bopd. As a result, there is no change to production guidance at this time, Petrotal said. In August, the company cut its guidance for 2025 production to between 20,000 and 21,000 bopd from between 21,000 and 23,000. PetroTal has experienced pump failures in four producing wells at the Bretana field from last December to February. The pumps were successfully replaced by mid-July, but during the course of its investigation into the pump failures, PetroTal discovered leaks in the production tubing in six wells. As a result, the firm had to shut-in four producing wells until the tubing can be replaced. PetroTal is moving to replace the production tubing as quickly as possible. Operations to replace production tubing are expected to begin by the end of October, with oil production expected to return throughout the month of November. Chief Executive Manuel Pablo Zuniga-Pflucker said the company is working as ‘quickly as possible’ to address the problems. ‘Our assets are located in a remote environment, and unfortunately it takes time to mobilize equipment to the field,’ he explained. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
