DOF Bags 2 Platform Supply Contracts
Norwegian supply shipping company DOF has been awarded short-term contracts for two of its platform supply vessels (PSVs).Premier UK has hired the 4,135-dwt Skandi Caledonia (built 2003) for around four months from this quarter. The PSV will perform supply duties for two firm wells, plus another optional…
Schlumberger, YPF to Invest $390 Mln in Vaca Muerta
Argentina's state-run oil company YPF SA and Schlumberger AG, the world's top oil services provider, have reached a deal to invest $390 million in the Vaca Muerta shale field in Patagonia, YPF said on Wednesday. In a letter to the Buenos Aires stock exchange, YPF said a division of Schlumberger would invest…
Argentina Clinches Labor/subsidy Deal to Attract Energy Investment
Argentina has clinched a deal with labor unions and energy companies aimed at luring investors to the Vaca Muerta shale formation in Patagonia, one of the largest unconventional reserves in the world, the government said on Tuesday. As part of the pact, the country will offer a subsidized price of $7.50…
Argentina to Subsidize Oil Exports
Exporters of heavy crude from Argentina will receive a $7.5 per barrel subsidy from the government as long as international prices remain under $47.5 per barrel, the energy ministry said on Friday. The policy, which applies to crude exports from the San Jorge basin in Patagonia, was announced as Argentina's…
Argentina Inks $500 mln Gas Production Deal with Dow Chemical
Argentina's state-run energy company YPF said on Tuesday it has entered a $500 million joint venture with Dow Chemical to drill for natural gas next year in the Vaca Muerta shale formation in Patagonia. A spokesman for the company said the investment will be split evenly between Dow and YPF during 2016. Production will come from Vaca Muerta's El Orejano field.
Macri Eyes New Gas Links with Chile, Pacific
Argentine president-elect Mauricio Macri said on Friday he was looking to build new Pacific trade links in energy supply as he seeks improved relations with neighboring Chile. Center-right Macri won Argentina's presidential election on Nov. 22, bringing to an end more than a decade of free-spending leftist…
Argentina Cuts Shale Drilling Costs
Argentina needs $200 billion in investment to develop its vast but barely tapped shale fields, but no joint ventures were expected soon because of low oil prices and uncertainty ahead of a presidential election, state oil company YPF said on Thursday. YPF, nationalized in 2013, is improving drilling efficiency…
Russia to Sign Energy MoU with Argentina
Argentina and Russian state-owned gas producer Gazprom will sign a memorandum on Thursday, Kremlin adviser Yuri Ushakov confirmed on Wednesday. Sources familiar with the situation said earlier that Argentine state oil company YPF was close to signing a memorandum of understanding for Gazprom to make energy investments in the South American country.
Argentina to Ink Energy Deal Memorandum with Gazprom
Argentine state oil company YPF is close to signing a memorandum of understanding for Russia's Gazprom to make energy investments in the South American country, sources familiar with the situation said on Tuesday. The memorandum is to be signed in Moscow this week during a visit from President Cristina Fernandez and YPF chief Miguel Galuccio…
Argentine February Natgas Output Rises, Oil Extends Losses
Argentine natural gas production rose in February versus the same month last year, but output of crude oil extended 2014 losses into the first two months of 2015, the country's energy secretariat said on Monday. Natural gas output rose 1.2 percent in February to 3.23 million cubic meters while crude production fell 2.1 percent to 2.35 million cubic meters…
Argentina: 2014 O&G Output Fell Despite YPF Increase
Argentine oil output fell 1.4 percent last year versus 2013 to 30.88 million cubic meters while the country's natural gas production edged 0.5 percent lower to 41.48 billion cubic meters, according to data provided by the Energy Secretariat. A fall in production by private companies during 2014 outweighed increases reported by state-controlled YPF…
Argentine Senate Okays Deal to Lure Shale Investors
Argentina's Senate early on Thursday approved a bill aimed at increasing incentives to lure the foreign investors needed to develop its vast shale reserves and erase the country's costly energy deficit. The cash-strapped South American country, which defaulted on its debt in July and cannot tap global credit markets…
Chilean Court Rejects Appeal Against Crow River Project
Chile's Supreme Court on Thursday rejected an application for an environmental organization against Crow River hydroelectric project, which plans to build in the south of the country with an initial investment of $ 733 million . In a unanimous ruling, the Third Chamber of the Supreme Court upheld an earlier judgment of the Court of Appeals of the Coyhaique region…
Chilean Electricity Megaproject Can get Reformulated under New Norms
Chilean electricity HidroAysén megaproject could be reformulated and even incorporate a new partner to rejection awakening in the country, said in an interview published on Sunday President generator Colbun, one of the partners of the initiative . HidroAysén, which Colbún owns 49 percent this week appealed…
YPF Strikes Oil in Southern Province of Neuquen
Argentine state-controlled energy company YPF said on Thursday it had discovered an unconventional oil field in the southern province of Neuquen. The find comes while YPF is struggling to attract investment needed to develop vast shale oil and gas formations in the Vaca Muerta area, which is also located in the southern Patagonia region.
China lends Argentina $7.5 bln for Power, Rail Projects
Argentina signed deals on Friday to borrow $7.5 billion from China at a time when the Latin American country cannot tap global capital markets because of disputes over unpaid debt. Among the deals signed, Argentine President Cristina Fernandez and her Chinese counterpart, Xi Jinping, agreed on a loan for…
China to Loan Argentina $7.5b for Power, Rail Projects
Argentina on Friday will sign deals to borrow $7.5 billion from China, its Cabinet chief said, at a time when the Latin American country cannot tap global capital markets due to disputes over unpaid debt. Cristina Fernandez and her Chinese counterpart, Xi Jinping, will agree on a loan for $4.7 billion from…
Argentina Won Lottery With Vaca Muerta Shale Field - Chevron
Argentina has won the "geological lottery" with its 1,000-foot-thick Vaca Muerta shale oil and gas field in Patagonia, a spokesman for Chevron said on Thursday, as the U.S. energy giant increases its investments in the country. The company and state-owned oil firm YPF announced plans last month to invest an additional $1.6 billion to develop Vaca Muerta.
Exxon Mobil Discovers Oil in Argentine Shale Field
U.S. energy major Exxon Mobil Corp said it has made its first discovery of non-conventional gas and crude oil in Argentina's vast shale formation of Vaca Muerta. Initial results at a well 4,570 meters (15,000 feet) deep produced an average flow rate of 770 barrels of oil per day, Exxon said in a statement late Tuesday.
