MercoPress. South Atlantic News Agency
Petrobras Argentina plans to invest 622m dollars to explore for shale gas
Petrobras Argentina expects to drill 44 wells at depths of up to 4,000 meters in Neuquen's Punta Rosada formation, Cabinet chief Jorge Capitanich The Argentine unit of Brazilian state-controlled oil giant Petrobras plans to invest 622 million dollars to explore for non-conventional natural gas in Neuquen, the Argentine government announced on Monday.
Petrobras Argentina expects to drill 44 wells at depths of up to 4,000 meters in Neuquen's Punta Rosada formation, Cabinet chief Jorge Capitanich told reporters during his daily press conference.
Investment in 2014, 2015 and 2016 will reach 245 million in at least 15 wells that will add 1.4 million cubic meters per day of natural gas to production in Neuquen, Petrobras Argentina said in a statement.
The wells will be drilled in the Río Neuquén block, bringing Petrobras Argentina’s well count in the concession to 24 by the end of 2016. The investment will increase Argentina’s gas output by 1.4 million cubic meters per day (MMcm/d).
The increased output from the investment would allow Argentina to cut its LNG imports by 10 cargoes per year, representing 280 million dollars in savings, Neuquén governor Jorge Sapag said in a statement last week.
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Read all commentsPMSL So let's look at the figures, US$ 240 million spent ( approx could be more or less )
Nov 12th, 2014 - 09:57 am 0gain US$ 280 million ( approx could be more or less ) that equates to a saving of 1.2% and that does not take into account inflation, corruption etc etc.again PMSL
Now if they invested US$ 20 BILLION that would make a difference, oops they don't have US$ 20 billion, silly me.
CaptainDismal strikes again.
Nov 12th, 2014 - 12:15 pm 0He is so pisspoor and always wrong he could well be Tobi's daddy, if Tobi knew who his daddy was.
Do they just pull numbers out of thin air? Until wells are drilled and tested how in the world would they know the size of the field and flow rate?
Nov 12th, 2014 - 02:14 pm 0Sheesh do they really think people are that stupid?
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