March 8, 2014
Wintershall signs deal with Neuquén to explore Vaca Muerta
Neuquén province formalized today a new contract with Wintershall to explore Vaca Muerta’s shale gas and oil field.
Governor Jorge Sapág signed an executive order which will be used as a legal reference for the parts. A local company called S&G is going to participate in the drillings as well.
The German company “plans to invest 110 million (USD) in six oil wells during the next two years,” affirmed Sapág.
In addition, he assured that “if the experimental phase succeeds, they will initiate another pilot program which includes the drilling of 20 more wells.”
According to Sapág, the works at the Aguada Federal bloc will last “between four and five years.”
Wintershall possess already 15 wells, with a production estimated in 26 million barrels per year.
Nequen’s Energy Minister Guillermo Coco, G&P’s CEO Gustavo Nagel and Wintershall’s production manager Martin Machmann were present during the event