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 >>

Iran >>  2/20/2017 - Iran has discovered major reserves of shale oil in the western parts of the country with a top official saying that the reserves are the first that ha...
Iran >>  2/19/2017 - Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Ir...

United States >>  2/10/2017 - Korea Gas Corp (KOGAS), the world's No.2 buyer of liquefied naturalgas (LNG), would be "interested" in participating in U.S. shale gas projects, with ...
United States >>  2/1/2017 - EV Energy Partners, L.P. announced that on January 31, 2017, it closed on an acquisition of Eagle Ford oil and natural gas properties in Karnes County...

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

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


Argentina Oil & Gas 1 >>  2 | 3 |

More News

 

Oil & Gas Companies in Argentina >>


Related Links

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