Argentina O&G companies to invest US$6.6bn this year

Monday, May 29, 2017

Oil and gas companies have committed to invest a combined US$6.63bn in Argentina this year.

National oil company YPF, BP-controlled Pan American Energy (PAE) and Total Austral account for 72.1% of the total, state news service Télam reported Monday, citing figures provided by operators to the energy and mining ministry.

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The remainder will come from 40 local and international operators.

YPF, PAE and Total will invest US$3.203bn, US$958mn and US$627mn, respectively, the report said.

YPF has said that it expects a second-straight year-on-year decline in capital expenditure this year.

Other companies listed in the report include ExxonMobil (US$151mn), Royal Dutch Shell (US$134mn), Enap Sipetrol (US$308mn), Pampa Energía (US$184mn), Tecpetrol (US$138mn), Pluspetrol (US$130mn) and Sinopec (US$125mn).

Companies with planned investments under US$100mn include PCR (US$99mn), Capsa (US$78mn), Wintershall (US$74mn), CGC (US$56mn), Petrolera Entre Lomas (US$55mn), Capex (US$37mn), El Trébol (US$32mn), Roch (US$32mn), High Luck Group (US$26mn) and Chevron Argentina (US$23mn).