Argentina's Río Negro halts oil and gas output slide
Despite having steadily fallen in recent years, oil and gas production in Argentina's Río Negro province has stabilized in recent months.
That's according to a release from the provincial government, which said that oil output in Río Negro from Argentina's YPF and Brazil's Petrobras increased by 3% and 13% in July, respectively, compared to June.
Río Negro's total oil production increased 3% to 171,360m3 (1.08Mb), averaging out to 35,927b/d. Total gas output grew 0.5% to 129Mm3, or 4.3Mm3/d, with YPF accounting for 40% of the total, the release said.
Provincial energy secretary Sebastián Caldiero said that despite the maturity of Río Negro's principal oilfields, new investment resulting from renegotiated E&P concessions with these and other operators has directly contributed to the recent uptick in output.
YPF and Petrobras operate in Río Negro through subsidiaries YSUR and Petrobras Argentina, respectively.
Caldiero also said the government expects local consortium Petróleos Sudamericanos-Necon and Petrolífera Petroleum to increase their activity in the region this year, following recent license extensions by local authorities.
Río Negro is one of the country's 10 hydrocarbon-producing provinces, collectively known as Ofephi, which outlined a plan earlier this month to return Argentina to energy self-sufficiency through increased investment in exploration and production.
In related news, the board of Argentine natural gas distributor Cuyana approved an international bond placement of up to US$250mn, the firm said in a securities filing.
The announcement follows the approval by the national government in June of 10 monthly subsidies to each of the country's natural gas distributors, including Cuyana.
The subsidies are meant to keep the companies solvent until the government works out a new tariff scheme for the gas transportation and distribution segments, which have suffered from price controls under the administration of President Cristina Fernández de Kirchner.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Oil & Gas (Argentina)
Snapshot: Winners of Argentina’s bioethanol supply call
Also from Argentina, bids for a contract to supply and finance pipes for the second phase of the Vaca Muerta gas pipeline project are now due to be...
President Elect Milei set to shake up Argentina’s oil industry
According to Wood Mackenzie analysis, Milei’s administration will focus on the importance of unlocking Vaca Muerta volumes and will approach this f...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Oil & Gas (Argentina)
Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: ROA POST block
- Current stage:
- Updated:
8 months ago
- Project: LIBERATOR GRAL SAN MARTIN Block
- Current stage:
- Updated:
8 months ago
- Project: Block BOTTLED WATER
- Current stage:
- Updated:
8 months ago
- Project: GÜEMES Block
- Current stage:
- Updated:
8 months ago
- Project: CORRALERA SOUTH block
- Current stage:
- Updated:
8 months ago
- Project: GENERAL ROCA block
- Current stage:
- Updated:
8 months ago
- Project: CORRALERA NORTHWEST Block
- Current stage:
- Updated:
8 months ago
- Project: Block SIERRA SPAIN
- Current stage:
- Updated:
8 months ago
- Project: LOMA LINDA block
- Current stage:
- Updated:
8 months ago
- Project: SANTA CLARA block
- Current stage:
- Updated:
8 months ago
Other companies in: Oil & Gas (Argentina)
Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Schlumberger Argentina S.A.  (Schlumberger Argentina)
-
Schlumberger Argentina, S.A. has operated since 1934 when Schlumberger Ltd. was in its early stages of establishment. Schlumberger Argentina offers services for oil and gas expl...
- Company: Vista Energy Argentina S.A.U.  (Vista Energy Argentina)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: AECOM Argentina
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Petroquímica Comodoro Rivadavia S.A.  (Petroquímica Comodoro Rivadavia (PCR))
-
Petroquímica Comodoro Rivadavia S.A. (PCR) is a privately-held Argentine company founded in 1921 and based in Buenos Aires. It operates in the areas of oil and gas exploration a...
- Company: Transportadora de Gas del Sur S.A.  (Transportadora de Gas del Sur (TGS))
-
Argentine energy company Transportadora de Gas del Sur (TGS) is engaged in the transportation, processing and storage of natural gas, and production and sale of liquid gas. In a...
- Company: Enap Sipetrol Argentina S.A.  (Enap Sipetrol Argentina)
-
Enap Sipetrol Argentina is a subsidiary of Enap Sipetrol, a company focused on oil and gas exploration and production which operates as the international arm of Chile's state-ow...
- Company: Tecpetrol S.A.  (Tecpetrol)
-
Tecpetrol S.A. is the Argentine subsidiary of global energy corporation Tecpetrol. The company engages in exploration and exploitation of oil and gas deposits across the country...