Argentina has awarded five oil companies licenses to explore for hydrocarbons offshore, in the country's continental shelf, in an area identified as the Argentine Sea, or South Atlantic, which basically extends between the continent and the Falkland Islands
Chile's Enap Sipetrol has acquired an offshore block, Octans Pegaso, on the Argentine continental shelf off the coast of Patagonia province of Santa Cruz. The block covers 886 square kilometers and is 20kms off Santa Cruz coast at its closest point to land. It was purchased from the consortium made up of Total Austral (35%), Wintershall (35%) and ENI (30%).
Argentina formally inaugurated the Vega Pleyade gas and condensate deposit off the coast of Tierra del Fuego considered the most austral of its kind in the world, and which has been supplying the country with nine million cubic meters daily since February 2016. The well is operated by French Total (37.5%) together with Wintershall Energy (37.5%) and Panamerican South (25%), demanded an investment of 1.1bn dollars over three years.
The inauguration ceremony of the Vega Pléyade natural gas field offshore Tierra del Fuego scheduled for Friday, has been postponed, although no official explanation has been given, it is believed that Argentine President Mauricio Macri was determined to attend, but his political agenda is too full precisely over the energy controversy and the fact next week he flies to China for the G20 summit.
Argentina will officially inaugurate this Friday the Vega Pléyade natural gas field, twenty kilometers offshore Tierra del Fuego to the south of the San Sebastián bay. The field started production last February and as a production potential of 10 million cubic meters per day.