Argentina announced Malvinas basin huge gas prospect off Patagonia

Monday, October 26th 2015 - 05:34 UTC

Full article 15 comments

The news of the 3D seismic surveying results in the Calamar block from Malvinas basin, offshore Santa Cruz and Chubut was published in Pagina 12

The surveying was a joint operation between Enarsa and PDVSA, which contracted the French geoscience company CGG

Argentina' Energy company, Enarsa, in association with Venezuela's PDVSA, allegedly has detected very positive natural gas deposits off the Patagonia coast, which according to reports in the Buenos Aires press could be equivalent a third of the country's reserves.

Government financed Pagina 12 reported on Sunday that the 3D seismic surveying in the Calamar block from Malvinas basin, off the provinces of Santa Cruz and Chubut apparently have located gas reserves of 3.63 TCF (trillion cubic feet).

“The seismic data collected showed that it is a basin with high prospects”, said geologist Alfredo Prelat, coordinator of Enarsa offshore activities, quoted by Pagina 12.

However further on it points out that to test whether the potential gas reserves are commercially viable, three exploratory wells would have to be drilled, which are billed at 30 million dollars.

Allegedly the are to be drilled is 200 kilometers offshores.

The report goes on to say that before the drilling chapter, Enarsa will have to agree with PDVSA, on costs and how to share the possible benefits if the prospect become commercially viable.

The current joint exploration between the two state companies is the result of a memorandum signed by Argentina and Venezuela in 2005, for cooperation in hydrocarbons' exploration and exploitation

The 3D seismic surveying was done by France's CGG, Compagnie Générale de Géophysique, which raked the coast of Santa Cruz and Chubut from December 2014 to January 2015 with the Oceanic Champion.

Categories: Energy & Oil, Argentina.

Tags: Argentina, Calamar Block - Malvinas basin, Compagnie Générale de Géophysique CGG, Enarsa, PDVSA.

Top Comments

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LEPRecon
Good for Argentina. Pity that no one will help them develop it. As for the two 'state' run companies from Argentina and Venezuela, neither of them have the money, the equipment or the experience to do more than survey.

It's a pity for Argentina that it's own government cuts off it's nose to spite it's face. It's a pity for Argentina, that since the illegal expropriation of Repsol's shares in YPF no foreign company will invest in Argentina, no matter how much they promise to behave. Experience has taught these companies that Argentine promises are meaningless.

But on the positive side, at least Argentina doesn't have to worry about environmental problems caused by drilling, which I know is allegedly a big concern of theirs regarding the Falkland Islands, as there won't be any drilling by Argentina.
Oct 26th, 2015 - 06:40 am 0
lsolde
Yes, Argentina.
Just leave it underground as we know where it is & can exploit the gas when we take over Sta Cruz Province.
Oct 26th, 2015 - 11:33 am 0
Mendoza Canadian
This is almost laughable...could be that the PDVSA connection could go down the tubes now that la cretina and her henchmen are on their way out.
Oct 26th, 2015 - 11:35 am 0

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