(Alliance News) - PetroTal Corp on Thursday said it has kicked off drilling of a well in Peru, and it also reaffirmed an environmental commitment.
The oil and gas company said it has started the drilling of well 16H, the first well to be drilled from the new L2 West platform in the Bretana oil field in Peru.
"The well is expected to cost approximately USD15 million with completion and initial production expected in January 2024," PetroTal said.
PetroTal added that it is "commitment to achieving net-zero biodiversity loss by 2030". It will do this by implementing a flora and fauna monitoring programme covering around 400 meters surrounding the area around the Bretana oilfield.
PetroTal shares fell 2.9% to 47.10 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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PetroTal (PTAL)