Peru crude output falls to near 2023 low, gas breaks record

Peru’s crude output slipped again in September, averaging 34,327b/d and nearing this year’s low of 33,033b/d in February.

The August average was 37,630b/d, with production falling since a 2023 high of 43,587b/d in March, data from hydrocarbons licensing authority Perupetro shows.

Activity has been impacted in part by protests and blockades, and low river levels for the transport of crude on barges at one of the country’s principal oil producers, block 95.

[insight#259047544]

Natural gas production, however, broke a recent historic record with 47.5Mm3/d (million cubic meters per day) in September versus the previous mark of 45.5Mm3/d in June, as the government presses on with gas massification.

Output dipped in July and August due to dispatch issues.

[insight#259047311]

In the first nine months, oil and gas production averaged 38,549b/d and 40.4Mm3/d, compared with 40,538b/d and 37.6Mm3/d last year.

Read Peru lowers hydrocarbons GDP growth guidance

Meanwhile, Perupetro declared void the bidding process to draft a national exploration and production plan as none of the offers were valid.

The participants for the 120-day contract were Arthur D. Little, KPMG Asesores, Reservoir Evaluation Management and Andes Grupo, according to procurement information.

The call was issued in August.