At a glance: Peru 2024-28 hydrocarbons output forecast

Just released numbers for Peru reveal that crude production is projected to grow 5% in the coming years while natural gas output is expected to plateau.

Oil and gas output in 2028 is forecast to average 63,361b/d and 1.396Bf3/d (billion cubic feet per day) compared to this year’s projection of 41,908b/d and 1.381Bf3/d, according to hydrocarbons licensing authority Perupetro.

This year through April 7, crude and gas production has averaged 41,406b/d and 1.319Bf3/d.

	Crude barrels/day	Natural Gas billion cubic feet/day
2024	41,908	1.381
2025	53,967	1.344
2026	55,178	1.365
2027	56,069	1.425
2028	63,361	1.396

Source: Perupetro

The crude increase will be driven by block 192, which is due to begin producing by year-end and block 64 in 2027. Other notable contributions would come from blocks III and X.

In the case of block 192, national oil company Petroperú recently signed an agreement with Altamesa Energy Perú, and for block 64, the NOC plans to begin a partner search shortly.

On the gas front, Camisea blocks 88 and 56, along with block 57, will continue to underpin production, with the three areas forecast to account for around 90% of output in 2028 from this year’s expected 94%.

Gas production would receive a boost starting in 2026 with the incorporation of block 58.

Perupetro's outlooks, which include natural gas liquids, are available in the Documents box in the top right corner.

Also read Snapshot: Peru upstream hydrocarbons investment by operator