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Argentinean Tecpetrol to invest $2.3 billion in Vaca Muerta shale deposits

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Argentinean Tecpetrol to invest $2.3 billion in Vaca Muerta shale deposits

Tecpetrol, an Argentinean company incorporated in Techint Group, plans to invest $ 2.3 billion in the shale deposits of Vaca Muerta by the year 2019, RIA Novosti reports.

Tecpetrol will tend to achieve the production level of 14 million cubic meters of shale gas by 2019, Senator Guillermo Pereyra said, who participated in a meeting, at which the company’s representatives announced their plan to President Mauricio Macri. This is the half of overall volume of gas imported by Argentina.

In the next three years, Tecpetrol plans to drill 150 wells in the Vaca Muerta area, and to spend $1.6 billion. Another $700 million will be invested in waste disposal, processing of gas and transportation.

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