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Argentina's Pampetrol restarts oil field after exit of private operator

Buenos Aires (Platts)--13 Mar 2017 501 pm EDT/2101 GMT


Pampetrol, the state oil company of Argentina's La Pampa province, has brought back into production a formerly privately operated block, with an eye to boosting output, the provincial government said.

"Pampetrol has started the first four production wells," the government said, adding each of the wells on Salina Grande I was producing an average of 94 b/d.

The La Pampa government said these were the first of 10 existing wells that Pampetrol will gradually put back into operation on the block in the south-central province. The block had been inactive for a year, it said.

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Last August, La Pampa revoked the exploration and production permit of Salina Grande I's private consortium, saying the group had failed to comply with license requirements in terms of the pace of investment since winning the permit in 2006. The consortium was made up of Gregorio, Numo y Noel Werthein, Petrosiel and Energial, the latter of which was the operator of the block.

La Pampa has also taken back under state control other blocks like Jaguel de los Machos from Brazil's state-run Petrobras.

La Pampa produces 3.8% of the country's 511,000 b/d of crude and 0.8% of its 123 million cu m/d of gas, according to the Argentine Oil & Gas Institute, an industry group.

--Charles Newbery, newsdesk@platts.com

--Edited by Dan Lalor, daniel.lalor@spglobal.com

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