This new deal of oil and gas industry in Argentina is regarding Santa Rosa field at Cuyana Basin in Argentina. Drilling is supposed to start by first six months of 2009. In a new development for oil and gas industry of Argentina Antrim Energy, a leading production and exploration company based in Canada, is expected to start production in Tierra del Fuego concession, which is located in south of Argentina.
RepsolYPF, a major Spanish and Argentine oil and gas company is bringing jack-up Ocean Scepter in order to drill a rig in San Jorge basin of Argentina. This would be start of an exploration program that has been awaited for a significant amount of time.
Oil and gas industry at Argentina has been affected badly by political crisis in Bolivia. So far deductions in amount of gas exports have been, more or less, negligible but if this crisis goes on for a longer time it would have serious impact on gas export scenario of Argentina.
Three biggest oil companies of South America – Enarsa, YPF and Enap Sipetrol – are going to pump $150 million in Argentine oil and gas industry. This money would be invested for offshore exploration activities in southern parts of Argentina.