As part of a sustainable development policy,
officials met with representatives of OIG Peru to discuss the progress of operations at Lot X, the largest oil and gas field in the country's northwest, located in Piura region.
During the meeting, the company announced that it will begin a new drilling phase in June this year under the licensing agreement in force through 2054.
The work plan includes the drilling of 1,144 development wells and two additional exploratory wells between 2026 and 2034.
Deputy Hydrocarbons Minister Marco Agama highlighted Lot X's potential for oil and natural gas production, while underscoring the project's operational progress and its contribution to Peru's energy security.
Likewise, he noted that the sustainable and efficient development of these operations allows the generation of positive impacts on the regional and national economy, as well as benefits for the population.
Agama underscored the importance of ensuring that the benefits of hydrocarbon activity are tangible for the population, noting that these resources help promote productive, community, and economic development projects in localities within the area of influence.
In turn, OIG Peru representatives reported that Lot X has maintained operational continuity, posting solid results with 17 fields, 2,801 active wells, and production of 10,300 barrels of oil equivalent per day (BOEPD).
Regarding economic and social impact, the company indicated that royalty transfers exceeding US$135 million have been made.
Meanwhile, more than US$6.7 million has been allocated to the Lot X Social Fund, contributing to the region's economic and energy dynamism.
In that context, Minem reaffirmed its commitment to continue coordinating actions, as well as providing technical and administrative support to promote responsible and sustainable investments for the benefit of the country's energy security and the population.