PetroTal’s Bretana 25H development well in Peru has reached a depth of 3,362 m, on schedule and in line with its pre-drill prognosis, the company said in its third-quarter update. The well was spudded on Sept. 21. It’s the first oil well in a renewed development drilling program meant to bring Bretana field production back […]
Condor Energy has identified deep-water turbidite reservoir systems across its Technical Evaluation Agreement (TEA-86) acreage in the Tumbes Basin offshore Peru, following an accelerated programme of integrated subsurface studies. The findings address a key exploration uncertainty and support the company’s application to convert its TEA into an exploration licence contract. The integrated technical programme combined […]
In recent years, exploratory activities in natural gas have slowed, leading to a depletion of reserves without new discoveries. If this continues, Peru could start importing natural gas between 2037 and 2040, which would drive up electricity generation costs and negatively affect the competitiveness of key sectors including industry, transport, and domestic consumers.