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April 28, 2022

Paiche Heavy Oil Field, Peru

By Carmen

Paiche is a heavy oil development located onshore Peru and is operated by Perenco Peru Petroleum. Discovered in 1998, Paiche lies in block Block 67.

The project is currently in approval stage and is expected to start commercial production in 2023.

Field participation details

The field is owned by Vietnam National Oil and Gas Group and Perenco Holdings.


Production from Paiche

Production from the Paiche heavy oil development project is expected to begin in 2023 and is forecast to peak in 2025, to approximately 1,468 bpd of crude oil and condensate. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2058.


Remaining recoverable reserves

The field is expected to recover 5.89 Mmboe, comprised of 5.89 Mmbbl of crude oil & condensate.


Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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