Petroperú assumes full control of Lote 192 oil field

The Peruvian government has officially transferred 100% ownership of the Lote 192 oil field to the state-owned company Petroperú. Through Supreme Decree No. 021-2026-EM, the government approved the modification of the license contract to recover the 61% stake previously held by Altamesa Energy Perú.

Located in the Loreto region, Lote 192 is one of the country's largest oil deposits, with an estimated potential of 127 million barrels and a projected production of 12,000 barrels per day. Operations at the site have been paralyzed since 2020 due to social conflicts and unpaid debts, following Altamesa Energy's departure from the project in February 2025.

The decree also removes the corporate guarantor previously provided by Altamesa, meaning Petroperú now assumes all financial obligations and risks associated with the contract alone. This move aims to reorganize the asset, though it raises questions regarding the state company's financial capacity to manage such a large-scale operation without a private partner.