Home » Pampa Energía increases its presence in Vaca Muerta and now goes for oil

Pampa Energía increases its presence in Vaca Muerta and now goes for oil

by drbyos

The integrated company Pampa Energía announced this morning that it has closed an agreement to keeping 100% of a block with potential in Vaca Muerta, thus expanding its presence in the shale formation. But the big news is that the area is focused on oil production which will allow to the firm specialized in the gas segment, embark on this other segment of hydrocarbons.

The firm led by Marcelo Mindlin, announced that reached an agreement with Total Austral, the local subsidiary of TotalEnergies, through which acquired 45% of the rights to the Rincón de Aranda block held by the French company.

With this acquisition, Pampa Energía thus managed to keep 100% of the block that today has a conventional exploitation permit, for which The operator’s next step will be to request the unconventional concession to develop Vaca Muerta there.

The firm had been analyzing its landing in Vaca Muerta oil production for some time, since the company is focused on gas, both in the El Mangrullo block and in Sierra Chata.

«Pampa continues to diversify its presence in the energy sector and reinforces its commitment to the development of Vaca Muerta. With the acquisition of this remaining 45%, the company increases its exposure in the unconventional oil segment, in a block with a great productive potential”, they marked.

Pampa sold one of its wind farms

As part of the negotiation, Pampa Enegía sold the Mario Cebrerio wind farm, located in the Bahía Blanca area, to Total Austalwhile in Rincón de Aranda the firm will have 100% of the rights to the area, which will allow it to increase both its reserves and its crude production.

“Despite the decrease in wind power that occurs with this sale, The company is developing the first two stages of the Pampa Energía VI Wind Farm, which will allow in the short term, that the company adds 140 MW, reaching a total power of 427 MW. In this way, the investments made in the renewable sector add up to more than US$1,000 million dollars,” the operator said in a statement.

And he added that they are currently the third largest gas producer in the Neuquén Basin, with a participation equivalent to 8% of the Vaca Muerta area, and with investments of more than 1,100 million dollars in the period 2021-2023 to expand its oil and gas production capacity.

Related Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.