Argentina to approve unconventional projects

Argentina’s Ministry of Energy and Mines will sanction 19 projects in the unconventional Vaca Muerta area through June 19, energy minister Juan José Aranguren said at an energy conference in Houston.

The projects, which target both shale and tight gas resources, will be approved under an investment incentive programme that sets a price floor for unconventional gas production. Two projects are located in the Río Negro province, one is in Santa Cruz, and the remaining 16 are in Neuquén.

“In the case of unconventional hydrocarbons, as a consequence of technological developments, Argentina is very well placed to replicate what has been done in the United States in this matter,” said the minister.

Minister Aranguren also discussed the upcoming offshore bidding around, expected to take place this summer. He told audiences that the auction had drawn the interest of oil giants Anadarko, Petronas, Statoil and others.

Furthermore, energy regulators are weighing a second offshore bidding round for mid-2019.