Petrotal Corp T.TAL

News

[jwillis9]

02/13/2023 https://diariolaregion.com/web/petrotal-pago-cerca-de-us-23-millones-de-regalias-el-2022/
Site is down or maybe broken link

Resources are earmarked for oil canon transfers to Loreto, among others.
PetroTal paid close to US$23 million for royalties during 2022, according to Perupetro figures.

The 2022 figure is double the amount paid in 2021 ($10.3 million) and is more than seven times the amount in 2020 ($3 million).
The royalties paid by PetroTal, operator of Block 95, are the main source of the oil canon that Loreto receives. According to Perupetro, in 2022, the region received S/ 215 million for this concept.
The oil canon is distributed to the Regional Government, provincial and district municipalities, as well as universities. Its main purpose is to finance or co-finance public investment projects.
Development Fund
In parallel to the payment of royalties and taxes to the treasury, PetroTal contributes the value of 2.5% of its production to the Puinahua District Development Fund, an initiative that promotes the progress and well-being of the district where the Bretaa Norte del Lote field is located. 95.
The process for the formalization of the fund is currently underway, which requires the signing of an addendum to the License contract for Block 95 between PetroTal and Perupetro, authorized by the Presidency of the Republic through a Supreme Decree.
The addendum, which has been approved by the board of directors of the company and Perupetro and which has the support of the social organizations of the district (JAP and Aidecobap), establishes that PetroTal will make the contributions as long as the production of oil and its transportation in the district are not paralyzed by social conflicts.
It also indicates that the fund will be used "solely and exclusively" to finance development projects in the towns of the Puinahua district.

[geezer21]

This is outdated news.  The addendum was completed.  Agreement was reached with dissidents.