Overview
- Perupetro said Upland Oil & Gas failed the economic and financial capacity test to assume 79% of the Lote 192 license obligations, though it met legal capacity requirements.
- Upland said it submitted on October 9 a JCR financial solvency report requested by the regulator and will ask Perupetro’s board to review the qualification outcome.
- The company cites its rapid restart of Lote 8 at about 5,000 barrels per day and a credit line to Petroperú as evidence of capability, assertions that remain company statements.
- Lote 192 has been inactive since 2020 after Frontera Energy’s service contract ended in 2021, and analysts suggest Petroperú cede the license so Perupetro can attract an investor to fund 100% of operations.
- Separately, Perupetro extended Petroperú’s Lote Z-69 license for up to six months to ensure operational continuity after a selection process drew no offers, with a new call being prepared to attract stronger bidders.