Tuesday, January 18th 2011 - 18:32 UTC

YPF To Begin Offshore Exploration In Tierra del Fuego

A spokesperson for the Argentine oil firm YPF informed that exploration work is scheduled to begin this quarter on the coast of Tierra del Fuego, a province located off the southernmost tip of the South American mainland.

“It will be in the coming months, in the first quarter, but at the moment we don't have an exact date. It depends on both climatic and operational factors” said the spokesperson.

Last September YPF informed BNamericas that it hoped to start working on this project by the beginning of 2011. The oil company reckons it will explore 250 blocks by 2014, 135 of which are onshore.

These endeavors taking place offshore coincide with a drilling campaign by international oil and gas firms in waters claimed by the Falkland Islands. Reserves of up to 3.5Bb may exists in the area according to some analysts, but so far there has only been one well in the multi-well campaign that has revealed traces of oil.

 According to Julio De Vido, Argentina’s Federal planning minister, there are several Kuwaiti firms which seem interested in exploring the country’s offshore potential. State news agency Telam announced that Argentina’s president Cristina Fernandez and De Vido discussed this matter with local officials while on a state visit to the Middle East
 

4 comments Feed

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1 xbarilox (#) Jan 18th, 2011 - 08:17 pm Report abuse
EzekeNAZI is happy and Cristina's son too :)
2 I (#) Jan 18th, 2011 - 09:10 pm Report abuse
IF BP can pollute why not Argentina ?? it's not like we only have fish to eat, we can eat grains and/or meat, We only have Malvinas to worry about, but I think it's better for our child UK to worry about them, UK has experience dealing with spills, this is why we had to wait untill they took Malvinas to drill in the bottom of the ocean, good thing is that if there is a spill it wouldn't be considered an act of terrorism or war it would be a freak accident like the one in USA a few moths ago..
3 Sir Rodderick Bodkin (#) Jan 19th, 2011 - 07:41 pm Report abuse
Get those machine drillin', boys!!
4 Argie (#) Jan 20th, 2011 - 01:23 pm Report abuse
I hope our boys do better than others in the area. It appears that 'potential' was greatly inflated by parties more interested in fanancing than in actual drilling. Have a look at today's news

www.thesun.co.uk/sol/homepage/news/money/3361628/Desire-sue-threat.html

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