The province of Black river prepares for a crucial debate in the Legislature on the extension of 21 oil concessions. The bill sent by Governor Alberto Weretilneck proposes extending these concessions for 10 years, which represent the 76% of the current ones and are operated by 9 companies. These areas are vital to the provincial economy, as they generate 85% of oil production and 72% of the gas.
The bill seeks to ensure the continuity of production and investment in these mature and marginal areas. The provincial Hydrocarbons Secretariat highlighted the importance of these areas, which had their main discoveries and developments between 1960 and 1980. Secondary recovery projects were essential to maintain production.
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In 2023, royalties from these concessions They represented 80% of provincial income for this concept. The extension is seen as essential to attract the investments necessary to counteract the natural decline of the fields and maintain infrastructure, some of which dates back to the early stages of production.
One of the most notable oil areas is Signal Picada/Punta Barda, operated by YPF, located in the northwest of the province. With production beginning in 1965, this area It has 274 active wells and a current production of 658 m³/day.
In terms of gas production, the most significant is Fernandez Oro Stationalso operated by YPF, which extends between Allen and Oro. This area began production in 1969, with an intensified gas profile since 2007, and currently provides more than half of the province’s gas with 168 active wells.
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The 21 areas seeking extension are distributed among several companies:
- Madalena Energy Argentina: Rinconada Area/Puesto Morales.
- Medanito: Party wall.
- Petróleos Sudamericanos (PS) and JCR: Loma Montosa Oeste, Centro Este, Bajo del Piche, Barranca de Los Loros, El Medanito, El Santiagueño.
- Aconcagua Oil Company Energy: Catriel Viejo, Catriel Oeste, Loma Guadalosa.
- President Petroleum: Post Flores/Estancia Vieja, Las Bases, Post Prado.
- Tecpetrol and YPF: Salt Water.
- Vista Oil & Gas Argentina: 25 de Mayo/Medanito, Jagüel de Los Machos, Entre Lomas.
- YPF: Fernández Oro Station, Neuquén River, Picada/Punta Barda Signal.
The extension process includes the evaluation of the necessary investments and the improvement of operating conditions in these areas. The debate in the Legislature will be crucial to define the future of these concessions and, therefore, hydrocarbon production in the province.
