PetroTal Restarts Drilling in Peru's Amazon Oil Field After Output Slump
PetroTal began drilling a new well at Peru's Bretaña field on 21 September, its first since January 2025. The company's output had fallen from a record 19,473 barrels per day in 2025 to about 12,300 barrels per day in September 2026, dragging down Peru's total crude production. PetroTal plans eight wells and aims to return to roughly 20,000 barrels per day.
PetroTal operates Block 95’s Bretaña field in Loreto, a remote Amazonian area where supplies and machinery typically arrive by river barge. The Calgary-registered firm, listed in Toronto and on London’s AIM, began output there in mid-2018 and became Peru’s top crude producer in early 2022.
In June 2026, Bretaña accounted for 31.1% of national crude output at about 11,200 barrels daily, while Peru total was 35,900 barrels daily, down 16.6% year on year. The first well since January 2025, 25H, began on 21 September and is expected to cost about US$15 million. PetroTal targets roughly 20,000 barrels daily, with 22 remaining drilling sites and 106 million barrels of proven and probable reserves.
The restart could affect Loreto communities and workers through renewed river transport, drilling jobs and local spending, though environmental and water-disposal risks may remain concerns. For Peru, higher output might slightly reduce reliance on imported fuel and support public revenues, but the benefit depends on the eight wells meeting targets. Any gains may be limited if infrastructure and erosion-defence issues persist.