MercoPress, en Español

Montevideo, March 29th 2024 - 07:07 UTC

 

 

Argentina closer to energy self sufficiency: US$ 2.3bn investment in Vaca Muerta shale fields

Saturday, March 25th 2017 - 09:29 UTC
Full article 4 comments

Argentina's Tecpetrol, part of the Techint Group, said on Thursday it would invest US$2.3 billion in the Vaca Muerta shale fields through 2019, the largest announcement in the formation in years. Tecpetrol said in a statement the investment was made possibly due to measures from President Mauricio Macri's government, including a deal with labor unions earlier this year and a definition of price supports this month. Read full article

Comments

Disclaimer & comment rules
  • Lightning

    Can somebody tell me if this will really happen?

    Isn't this in conflict with a trade deal with China that would see them building infrastructure in return for Argentine commodities and options on other natural resources?

    Mar 25th, 2017 - 03:44 pm - Link - Report abuse +1
  • Markič

    “We are going to arrive in September with five or six drilling teams, each one with about 100 people, this is very important,” Senator and union leader Pereyra said

    However, only about 40 actually productive workers are needed per team, and the rest are featherbedding. Which is one of the main reasons that YPF production costs are so high.

    Mar 26th, 2017 - 01:55 am - Link - Report abuse +1
  • Enrique Massot

    It is all conditional to Macri 's promises of “lowering the costs, which include labour costs,” by “talking to the unions.”
    In light of several recent demonstrations and a CGT's general strike slated April 6, such promises look a bit far fetched.

    Mar 27th, 2017 - 01:43 am - Link - Report abuse 0
  • DemonTree

    @EM
    The article says the deal with the unions has already been done.

    Anyway, shouldn't you be happy that the gas and oil is now going to be extracted by an Argentine company, providing jobs in Argentina and reducing the need for imports?

    Mar 27th, 2017 - 06:13 pm - Link - Report abuse 0

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