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They will be destined for the production of unconventional oil in Puesto Parada The energy company Tecpetrol of Grupo Techint plans to invest US$2.5 billion to develop the unconventional oil area in Vaca Muerta. The largest shale gas producer in Argentina received the concession for the exploitation of the Puesto Parada area, measuring 159 square kilometers (km2), for a period of 35 years. The CEO of the company, Ricardo Markous, announced yesterday that they are about to finish the US$68 million pilot project and plan to begin drilling 164 wells, which will constitute a total investment of US$2.5 billion, according to official information. “In a first stage, we foresee some US$ 500 million to start up the production of at least 15,000 barrels per day. If the results are good, we will be able to double this production”, said the manager of the firm. This production goal of 15,000 barrels is projected for 2025. Neuquéns oil production in November was the highest in 23 years: 303,270 barrels per day, a year-on-year growth of more than 28%, but unlike previous years, 90% of last months production corresponded to unconventional oil , announced the Secretary of Energy and Mining of the Nation. Tecpetrol has already invested more than US$2.3 billion in unconventional gas in Vaca Muerta, in the Fortín de Piedra field, where it reached a record 20 million cubic meters per day (m3) produced and plans to increase it to 23 million for the winter of 2023. Apart from Fortín de Piedra and, now, Puesto Parada, Tecpetrol has the concession for two more fields in Vaca Muerta: Los Toldos 1 Norte, with four wells, in a wet gas area, similar to Fortín de Piedra, and Los Toldos 2, an oil area with three test wells and a couple more under development, the company said. In addition, the energy company was the largest winner of the Gas V Plan, to supply the Néstor Kirchner Pipeline with 8.5 million m3/day of gas, out of a total tendered of 28 million m3 (something that in winter will increase to 43% when replaced by liquefied LNG). Curiously, the work on the gas pipeline was also carried out by Paolo Roccas construction company, as was the supply of pipes, by another Group company: Tenaris, the manufacturer of seamless steel tubes. In the first nine months of 2022, Tecpetrol had earnings of $128,194.43 million, against $84,173.55 million in the same time of 2021. A difference of $24,433 million for the energy company. A year earlier, the companys year-over-year revenue was $20.31 billion. |
