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Peru's oil production breaks five-year record in Nov 2019

09:18 | Lima, Dec. 4.

Peruvian Hydrocarbons Society (SPH) has reported that Peru's oil production hit record high of 63,738 barrels per day (bpd) for the first time in five years, that is, since December 2014.

According to State-run Perupetro, the result is 7,694 bpd higher than last month's (56,044 bpd) and was driven by an increase in production at Blocks 95 (with 8,068 bpd) and 8 (with 6,674 bpd) in Loreto region, as well as Block Z-1 (with 2,599 bpd) in Tumbes region, during the eleventh month of the year. 

Furthermore, this figure is 31% higher than that of November last year.

SPH sees the result as positive, since it moves the country closer to the goal of producing 100,000 oil barrels per day. 

"Besides, it highlights how important it is to encourage production at blocks in the rainforest, and the operating capacity of Northern Peruvian Oil Pipeline is key in this respect, as well as the investment facilitation on the northern coast of the country," the association remarked.

In addition, it explained, the increase in hydrocarbon production supplies its own demand, on the one hand, and contributes to the economic development of production regions through canon and overcanon, on the other hand.

(END) MDV/RMB/MVB

Published: 12/4/2019
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