The 10-year extension for the current concessions is necessary in order to materialize the investments required to reduce the natural decline of the Rio Negro deposits.
“A large part of the discoveries and developments in these areas occurred between the years 1960 and 1980. They are characterized by having a long history of production linked to secondary recovery projects, which means that some of the blocks are considered mature as well as also marginal,” they pointed out from the provincial Hydrocarbons Secretariat.
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In general, they specified that continuity in investments and activities in general is necessary in order to improve the current operating conditions in the areas. “This without leaving aside the fact that maintenance must also be carried out on facilities whose age, in several cases, coincides with the start of production in those blocks,” they added.
The most important areas
The process reaches all companies whose concessions expire between 2025 and 2028. One of the most notable areas when it comes to oil is Picada/Punta Barda Signal, operated by YPF, located in the extreme northwest of the province. The start of production dates back to 1965 with 274 active wells and a current production of 658 m3/day.
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Regarding gas production, the most important is Estación Fernández Oro, which occupies a large part of the rural Valletta area between Allen and Oro, which is also operated by YPF. Although its history in productive terms began to be written in 1969, the gas profile with more intensive development began in 2007, supplying more than half of the province’s gas. It has 168 active wells.
Complete list of companies and areas
In total, there are about nine operators that have in their hands the 21 mature areas that the Weretilneck government seeks to renegotiate to extend the exploitation period for another 10 years, and revitalize production.
The company Madalena Energy Argentina holds the concession for the Rinconada/Posto Morales area. Medanito It has a Party Wall; Petróleos Sudamericanos (PS) and JCR They own Loma Montosa Oeste, Centro Este. While in solitude PS operates Bajo del Piche, Barranca de Los Loros, El Medanito and El Santiagueño.
Aconcagua Oil Company Energy It has Catriel Viejo, Catriel Oeste and Loma Guadalosa. In the case of President PetroleumFlower Post/Estancia Vieja, Las Bases and Prado Post. Tecpetrol together with YPF It has Salt Water. Vista Oil & Gas Argentina It has the concession of the 25 de Mayo/ Medanito, Jagüel de Los Machos and Entre Lomas areas. YPF, for its part, owns Estación Fernández Oro, Río Neuquén and Signal Picada/Punta Barda.
