Laredo Oil discusses mature field recovery in Santa Cruz, Argentina
What happened
Laredo Oil executives met with Santa Cruz Governor Claudio Vidal and the province’s minister of energy and mining, Jaime Álvarez, to discuss using Underground Gravity Drainage (UGD) technology for mature oil fields in Santa Cruz. The meeting did not result in an agreement, but both sides agreed to continue discussions regarding investment and new recovery technologies. Santa Cruz is identified as one of Argentina’s main conventional oil-producing provinces.
From worldoil.com
Why it matters
The discussions relate to recovering oil from mature and declining fields in the Golfo San Jorge basin. This interest comes as Argentina’s crude production hit a record 887,227 bpd in May, according to Ministry of Economy figures.
From worldoil.com
Who's involved
- Santa CruzKey oil-producing province in Argentina, where mature fields are located.
- ArgentinaCountry where Santa Cruz is a main conventional oil-producing province.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- EniSpeculative
Eni may see renewed foreign capital interest in Argentina's upstream energy sector.
- HalliburtonSpeculative
Halliburton could see increased demand for specialized oil and gas service providers due to the focus on UGD technology.
Keep exploring
The entities involved
-
Santa Cruz
district of Manila, Philippines
-
Argentina
country in South America