Gulf Oil and Gas accountACCOUNT

Petrobras Argentina Extends Concession in Vaca Muerta

Source: Reuters 6/16/2016, Location: South America

Share |
Petrobras Argentina has an agreement to extend a shale gas concession for 35 years in the South American country's Vaca Muerta region.

According to a securities filing, the plan would include a five-year pilot project to develop so-called tight gas by drilling 24 wells.

Omar Gutiérrez, governor of Neuquén province, said on Wednesday Petrobras would invest an initial $346 million to develop the Punta Rosada and Lajas formations with potential long-term investments of $2.5 billion.

Argentina's center-right President Mauricio Macri calculates Vaca Muerta, which could contain the world's largest shale reserves, would need total long-term investment of $200 billion to reverse Argentina's sustained energy crisis.

The country is importing costly crude, refined products and gas and often sees shortages and blackouts.

Brazil's state-run oil firm, known formally as Petroleo Brasileiro SA said in May it was selling a majority stake in Petrobras Argentina SA to Argentina's Pampa Energia .

Shale Gas News in Argentina >>

United States >>  4/10/2018 - Exxon Mobil Corp is in talks with Qatar over a possible deal that could see the country investing in the company’s U.S. shale gas resources, the Wall ...
Mexico >>  3/26/2018 - Petroleos Mexicanos and Lewis Energy Mexico signed the first Integrated Exploration and Extraction Contract (Acronym in Spanish: CSIEE) for the Olmos ...

United States >>  3/26/2018 - Marubeni Corporation announces that Marubeni, through its subsidiaries, has reached agreements with two independent oil and gas companies in the U.S.A...
United States >>  9/10/2013 - EXCO Resources, Inc. announced BG Group plc (“BG Group”) has elected not to acquire 50% of the recently acquired producing and undeveloped oil and ga...

Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


Argentina Oil & Gas 1 >>  2 | 3 | 4 |

More News

 

Oil & Gas Companies in Argentina >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.