PetroTal provide an update on operations at the Bretana oil field in Peru which, as previously indicated, recommenced in mid-July.

Highlights

• The Bretana field restarted operations on July 15th, 2020 and production has returned to pre-shutdown levels of 11,500 barrels of oil per day (“bopd”), exceeding 12,000 bopd when all seven wells are online;
• Oil deliveries have commenced to the Iquitos refinery and deliveries to the Northern Oil Pipeline (“ONP”) at the Saramuro Pump Station are expected to commence in early August 2020; and,
• Q2 2020 production was approximately 4,180 bopd. Taking into account the field was shut-in since early May 2020, average Q2 2020 production for the period the oil field was producing represented approximately 11,500 bopd.

Oil deliveries have already commenced to the Iquitos refinery and approximately 40,000 barrels are expected be delivered during July 2020.

Oil is being barged to the Saramuro Pump Station ready to be delivered into the ONP immediately at its recommencement of its operations, expected in early August 2020. To manage the Company’s inventory and barge storage capacity, Bretana production has been reduced to approximately 8,000 bopd pending the restart of the pipeline.

KeyFacts Energy: PetroTal Peru country profile