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Repsol YPF to bring forward investments in Argentina to have larger reserves and increase production
Press Release
23/06/2006 07:00
- Repsol YPF will bring forward investments in Argentina under a $6 billion (EUR4.77 billion) three-year schedule for 2007/2009.
- $4.6 billion (EUR3.658 billion) will be allotted to the exploration and production of oil and gas in that country.
- The schedule for advancing investment in Argentina is based on a deeper knowledge of the fields acquired over the past year.
- Repsol YPF will strengthen technical and strategic joint ventures with other companies given the growing interest in Argentina on the part of operators specialised in the exploration of mature regions.
- New reserves will be generated by intensifying exploration activity and through additional development with the application of improved operating methods and new technologies in mature areas.
- Deepwater operations will increase in association with ENARSA, such as in the Gulf of San Jorge. The viability of the Tight Gas project will be developed to obtain commercial gas from low permeability structures.
- The investment schedule in Argentina will make it possible to project additional investment after the 2007/2009 period, and allows the company to define future options for incorporating production and reserves beyond the year 2010.