Repsol-YPF to explore for oil in Malvinas waters at the end of 2010

Thursday, February 25th 2010 - 23:17 UTC

Full article 9 comments

The Spanish oil company CEO Antonio Brufau made the announcement

Spanish-Argentine Oil Company Repsol-YPF announced Thursday that it will drill for oil in an area near the Falkland Islands beginning next November /December.

It will drill about 200 miles off Argentine coast by December, “well within Argentinean waters” said the corporation’s CEO Antonio Brufau.

The move comes as UK oil companies begin to search for oil in the Falklands, despite strong opposition from Argentina.

A platform ”Ocean Guardian”, towed 8,000 miles from the Cromarty Firth in Scotland started drilling in the Falklands north basin this week.

“We are now in the process contracting an oil rig” said CEO Brufau who added that even when exploration in the area “is not easy and success chances low or limited”, the operation will go ahead.

Antonio Gomis, Repsol-YPF manager in Argentina said the plan is to explore for oil in a “few” wells in the area. He added the fields were about 150 to 200 miles west of where the “Ocean Guardian” is, in Argentine territorial waters.

Repsol through its Argentine affiliate YPF and with a 33% stake is the main operator of the exploration project which also includes, Brazil’s Petrobras and Panamerican Energy.

Repsol-YPF two years ago announced an agreement with the Brazilian and US companies to work in the area with the main exploration set to begin in 2010. In 2009 Brufau said the consortium was already working in the area.

“We want to continue exploring in Argentina, a mature country regarding oil exploration because it has over a century in the industry. Currently we have 13.000 wells in production in Argentina and our target is to continue exploring offshore, and for this purpose we are involved in the Malvinas area and the San Jorge Gulf”.

On Wednesday Argentina formally asked United Nations to bring the UK to talks over the sovereignty of the Falkland Islands and to freeze all hydrocarbons operations in the disputed waters.

Categories: Energy & Oil, Argentina.

Top Comments

Disclaimer & comment rules

nitrojuan
Repsol - YPF has waited the invasion of our resourses in Malvinas, to start working... typical of Argentina, first the facts and then work.
Mr Brufou of course in Argentinean waters, like The Guardian is....
Feb 26th, 2010 - 12:29 am 0
Buzz
It looks like the Falkland Islands is a separate micro-plate to the rest of the Argentinian continental shelf, and therefore Argentina should have no claim to it as part of Argentina's larger claim for its continental shelf. Argentina has no claim since the Falklands were not part of the Argentina's continental shelf.

Evidence that the Argentinian claim is unfounded:

http://www.bgs.ac.uk/falklands-oil/reggeol/PlateTech.htm
Feb 26th, 2010 - 12:55 am 0
nitrojuan
Yes Buzzy i have listened so much stupid thinks.. maybe thanks the last earthquake that we have in Tierra del Fuego, now Malvinas is near SouthAfrica....
Feb 26th, 2010 - 01:42 am 0

Read all comments

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!