New licence area Ranquil Norte shows potential for exploration of conventional and unconventional reservoirs Buenos Aires.
Wintershall Energia S.A., a wholly owned subsidiary of Kassel-based Wintershall, has been awarded the exploration permit for the Area Ranquil Norte by the Mendoza Province through Decree N° 821. Wintershall Energia S.A. has 50% participating interest and is the operator of the Area with Total Austral S.A. as partner holding the remaining 50%.
The area is located in the southernmost region of the Mendoza Province and covers 2.232 km2. Since 2002 field and lab-work has been performed by Wintershall Energia S.A. over the whole surface, including geology mapping, geochemical analysis, geological modeling and 2D seismic interpretation. These evaluations indicate that the Ranquil Norte Block has potential to explore and develop conventional and unconventional reservoirs (shale gas and shale oil). This exploration commitment underpins Wintershall Energia S.A. determination to continue to contribute to the long term development of Argentina’s oil and gas resources.
Previously, in March 2012, Wintershall Energ?a S.A. has also been awarded by the Mendoza Province, the 956 km2 CN-V (Cuenca Neuquina V) exploration permit located adjacent and to the North of the Ranquil Norte Area. “The award of the Ranquil Norte block provides the opportunity for Wintershall to strengthen its position in the Province where we plan to apply the Company’s technical experience in unconventional reservoir projects in the Neuquen Basin”, said Gustavo Albrecht, Managing Director of Wintershall Energia S.A.
Wintershall Energia S.A. plays a prominent role in oil and gas exploration and production in Argentina as the 4th largest gas producer in the country. The company has been active in Argentina since 1978, especially in the production of natural gas. The company has working interests in 15 oil and gas fields and is one of the largest natural producers in the country with an annual production of 27 million barrels of oil equivalent.
