MercoPress. South Atlantic News Agency

Argentina promotes oil and gas opportunities at the British-Argentine Chamber of Commerce in London

Carlos Alfaro, member of BACC and president of the American Argentine Chamber in New York

The Seminar “Argentina Oil & Gas 2013” organized by the British Argentine Chamber of Commerce (BACC) with the support of the Law Society and UK Trade and Investment Department took place last Thursday June 6 and highlighted Argentina’s century long experience in the hydrocarbons industry.

Forty nine analysts from funds and consultancies, lawyers and energy experts listened to presentations from Andes Energia Plc, CGC-Unitec Energy, J. Stern & Co., Carlos Alfaro, member of BACC and president of the American Argentine Chamber in New York and José Luis Manzano, president of Integra Capital, as part of this event aimed at analyzing Oil and Gas investment and business opportunities in Argentina.

In his dissertation, Carlos Alfaro stressed the stability of the fiscal schemes in the Argentine provinces regarding royalties, the 130/2013 resolution to create a Hydrocarbons Fund, and the relaxation of natural gas prices, as important decisions and elements in the state which promote the oil private sector.

During the closing lunch, José Luis Manzano (finance expert and former minister of the president Carlos Menem administration) said that a country such as Argentina, which has the second reservoir of non-conventional oil, with more than 100 years of experience in oil exploration and extraction, and with a high density of internationally qualified professionals, deserves to continue addressing the needs of international investors. Manzano was seen later talking with several investors in the hallways of the Law Society.

Santiago Marfort, appointed Foreign Affairs chief of the CGC -Unitec Energía de Corporación América, shared what is the profile of the oil group recently purchased by Eduardo Eurnekian, an Argentine tycoon with interests in communications, airports, finance, construction, among other fields.

Marfort followed a presentation made by Jerome Stern, a well-known European businessperson, who considered Argentina is now at the entrance of a fast process of growth of its oil reserves possibilities and added that should be used by investors, foreseeing future hikes in the country’s resources.

Alejandro Jotayan, the new CEO of Andes Energía, an Argentine company founded in 2007, shared the recent progress the firm has made. It currently produces almost 2,000 barrels in a daily basis, and is planning on drilling ten wells in the country within the next 12 months.

Seminar “Argentina Oil & Gas 2013”