PetroTal Announces AIDECOBAP Illegal River Blockade

Source: www.gulfoilandgas.com 6/8/2023, Location: North America

PetroTal urges a peaceful and immediate end to demonstrations
Field production slowdown coincides with planned infrastructure tie-ins

PetroTal Corp. announces an illegal and violent river blockade against vessels that provide services to PetroTal.

Illegal River Blockade
As of June 3, 2023, The Indigenous Association for Development and Conservation of Bajo Puinahua ("AIDECOBAP") has engaged in carrying out an illegal blockade in the Puinahua Canal against all ships providing services to the Company, including barges that transport oil, and vessels carrying critical camp supplies.

AIDECOBAP is using aggressive actions which are endangering the lives of vessel crew and local residents. The blockade ignores the recently signed agreements which adopt a transparent, fair, and participatory approach to allocating social fund resources where over US$8 million has already been accumulated from PetroTal into a restricted bank account. During social related downtime, over US$50,000 per day is forfeited from future trust allocations. PetroTal has called for an immediate and peaceful end to the blockade so that safe river transportation operations can resume, as previously formalized by the working table committee participants and announced on May 30, 2023.

This river access disruption coincides with planned production reductions that will allow the Company to tie in previously installed infrastructure and modify production operations that will economically benefit future oil production. June 2023 month to date oil production has averaged approximately 10,000 barrels of oil per day ("bopd') prior to the field installation work, commencing June 8, 2023, where the field will be shut in for approximately five days. The Company's 2023 oil production forecast included this planned downtime and a 5% social downtime contingency in its 2023 guidance to allow for social disruption.


South Korea >>  1/6/2025 - Stolthaven Terminals' joint-venture facility in South Korea, Jeong IL Stolthaven Ulsan (JSTT), has received the 2024 Best Tank Terminal award from the...
Spain >>  12/16/2024 - With its 100th delivery to Europe, Axpo has reached a new milestone in the liquefied natural gas (LNG) business. LNG ensures the security of supply fo...

Bermuda >>  12/15/2024 - Avance Gas Holding Ltd ("Avance Gas" or "Company") refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet, consisting of ...
Germany >>  12/13/2024 - - Long-standing LNG Transportation Record by the World's Largest LNG Fleet, Leading in Innovation in Sustainability and a Clear Commitment to Decarbon...

Japan >>  12/11/2024 - On Tuesday, December 10th, NYK delivered the 40,000 DWT bulk carrier "FENJA BULKER," built by Shimanami Shipbuilding Co., Ltd., an NYK group company.<...
Netherlands/Holland >>  12/11/2024 - BASgas, a company pioneering the production of green gas from manure, is pleased to receive investments from energy company Eneco and the East Netherl...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.