Shell Increases Its Presence in Dead Cow's Oil Window • EconoJournal



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Shell reported that the government of the province of Neuquén has approved a series of agreements signed between O & G Developments, a subsidiary of Royal Dutch Shell in Argentina (Shell Argentina), and Apco Oil & Gas International Inc. of Vista Oil & Gas (Apco). The approval was given by decree 20197/18, published on Friday, November 22.

As part of this operation, Shell Argentina acquired Apco 18 km2 net of the Coiron Amargo Sur Oeste block (CASO), equivalent to 35% of the block's rights. In the same transaction, Shell Argentina transferred to APCO the total of its rights in the area of ​​Águila Mora, equivalent to a 90% participation, and agreed to the development of the investment in infrastructure for a sum of 10 million dollars.

As a result, Shell Argentina increases its stake to 80% in the Coiron Amargo Sur Oeste (CASO) area and continues to operate. Apco and Gas y Petroleo de Neuquén (G & P) share the remaining stake in equal shares of 10% each in the area.

In turn, CASO recently received from the government of the province of Neuquén, the exploitation concession for a period of 35 years.

"Shell is on a growth trajectory with respect to its oil and gas production business, focusing on its unconventional reserves in the United States, Canada and Argentina. Preliminary results from wells drilled at Vaca Muerta and the first We will continue to invest in unconventional projects in Neuquén, both in our operated and non-operated blocks, "said Sean Rooney, VP Upstream Argentina and president of the local subsidiary.

In Águila Mora, Apco now owns 90% of the rights and has become an operator, while G & P holds the remaining 10%.

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