YPF unveils five year plan to explore for oil and gas in the Falklands basin
Argentina's YPF, the local unit of Spanish oil major Repsol, said on Tuesday it would explore for oil and natural gas in the Falkland/Malvinas Islands basin as part of a five-year exploration program.
YPF, Argentina's biggest energy company, will spend about 100 million US dollars for the exploration work in the South Atlantic, leading a consortium also involving Argentina's Pan American Energy and Brazil's Petrobras.
“We will invest all the resources necessary to explore the whole of the country and find out its full potential in terms of oil and natural gas reserves” Chief Executive Sebastian Eskenazi said in a presentation. “We’re going to define the map of remaining exploration opportunities in Argentina”, he added.
He did not put a figure on the planned investment in exploration up through 2015 but he said the firm had already earmarked some 1.61 billion USD for investment on refining and logistics over the next three years.
Argentina claims sovereignty over the British-controlled Falkland Islands and the two countries fought a brief war in the remote archipelago in 1982, following Argentina’s invasion of the Islands.
“This is a frontier exploration project, with high potential as well as high geological risk in an area with water depths of 500 meters” a company statement said. It said the exploration work would take place some 289 kilometres from the coast of Patagonia, but gave no further details.
Earlier this year, Britain and Argentina lodged claim to a large swath of South Atlantic seabed around the remote islands, setting the stage for a battle for control of potentially rich oil and gas reserves.
YPF plans also involve mapping out the 250 unassigned exploration blocks remaining in Argentina. Of those, 135 are offshore. While those investment plans haven't been defined in the free blocks, each site will be mapped out using two-dimensional or three-dimensional imaging or through exploratory drilling, as appropriate, said an YPF spokesperson. YPF is also going to focus on increasing its gas-recovery rates.
“Our view is to increase the recovery factor from the current 20% to 25% in 10 years...notably increasing the country's reserves,” Eskenazi said in the release.
In November, YPF said that it had added 109 million barrels of oil equivalent, or BOE, to its proven oil and gas reserves in the first nine months of 2009. Over the three years running up until late 2009, YPF incorporated about 300 million BOE to its proven reserves, a company spokesman said in November.
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perhaps in 10´s we will seduce stock holders.
It ain't going to happen.
We will recover the islands in 50 or 100 years when the current retarded bennys (not all of them) have died. Then, The former UK will negotiate. What I don't know is if we will have to negotiate with england, ireland or wales!. May be the scotish people. UK is following the URSS footsteps.
Anyway, time is on our side, so don't bother nitro! They can't hurt us more than they did. Time to speak to malvinas people will come one day, meanwhile keep ignoring the monkys, its monky goverment and all the british circus around it.
For internal matters I dont prefer to talk it in Mercopress, maybe the forus of LN or Clarin are better.
Time will speak.
Saludos
Minster Nicholase Ridley visited the Islands in 1980 to discuss sovereignty with the Islanders, Britain was basicaly pulling out of the South Atlantic, then you John Wayne wanabees came storming in with one hand tied around your balls. The Islanders were not even classed as British nationals back in 81 if they did not have a parent or grandparant born in the UK.
So as far as trusting goverments go, well the door can swing both ways. it is just that yours swings a lot faster.
goodnight ladies.
Given the current arms race, many predict that current disputes in South America will blow up within the next 5 to 10 years. Brazil and Chile are rearming and buying new weapons systems at an incredible rate, and then there's the Chavez factor.
In the future we won't be dealing with Argentina, as it will have become a province of Chile.
I know there are some islanders that would agree with me even when they don't comment here!
Happy new year Nitro and all the rest!
An island way of life is quite distinct, and most islanders all over the world dislike “mainlanders” dictating what they should or shouldn't be doing.
I imagine the thinking behind some Falklanders' wishing to stay allied with the UK is in line with this idiom , 'better the devil you know than the devil you don't'.
1982 - quite correct, if impatient galtieri had waited another year or so we would have been forced into his hands like a rotten apple! Reallly there could be a monument to him at the end of the airport runway here -“thankyou general - your stupidity cost 1000 lives - but it saved the islands for good”
British Citizenship - UK was scared of 12 million Chinese possibly wanting to flee HongKong before the lease expired and they became part of Communist China. There was a general international “shrinkage” going on in UK which started late 1960s - it came to an abrupt halt when UK woke up in April 1982 to the fact that there are some nasty guys around who you actually have to stand up against . Since then policy has changed - Bosnia, Int Terrorism etc. I wont mention Iraq (not many were in favour of Iraq 2nd -a Bush/Blair c----up).Iraq 1st was a fair one though. Yes Jorge you are right - the way UK treated us prior to 1982 was pretty poor - but when the chips came down Britain showed the world what she really stands for- People,s rights to choose their own form of Government.
Happy New Year likewise.
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