LatAmNRG Briefs: Maurel & Prom Venezuela, Argentina Renewables, Ecopetrol Pre-Salt, Guyana Governance

(Energy Analytics Institute, Piero Stewart, 21.Dec.2018) — Heard on the street and LatAmNRG briefs on Argentina’s renewable energy sector, Maurel & Prom’s acquisition of Shell’s interest in the Urdaneta West field in Venezuela, Ecopetrol’s new block in Brazil’s pre-salt region, and Guyana’s city chamber seeking governance for ‘formidable’ petroleum sector in this small South American country.

Renewable Projects In Argentina Represent $6.3 Billion Investment

(Energy Analytics Institute, Aaron Simonsky, 21.Dec.2018) —Today, Argentina has 115 renewable energy projects underway that represent 4,260 new mega-watts to be injected into the system with an estimated investment of $6,250 million, announced Argentina’s Renewable Energies and Energy Efficiency Undersecretary Sebastián Kind.

Kind’s comments came during a multi-sector table related to renewable energies that was led by Argentina’s Minister of Production and Labor, Dante Sica. The table addressed issues aimed at consolidating a work agenda for 2019, reported Argentina’s Energy Secretariat in an official statement on its website.

“The renewable energy sector has huge potential to grow in production and competitiveness, with the creation of quality jobs throughout the country,” said Sica.

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Maurel & Prom Buys Shell’s Interest In Urdaneta West Field

(Energy Analytics Institute, Piero Stewart, 21.Dec.2018) — France’s Maurel & Prom completed the acquisition of Shell’s interest in the Urdaneta West field in Venezuela. The transaction marks a “new milestone in Maurel & Prom’s growth strategy in Latin America,” the company reported in an official statement on its website.

The Urdaneta West field is a producing asset with large reserves and significant upside potential and an appropriate organisational and contractual framework has been set up to ensure an efficient redevelopment of the asset and secure payments, the French company reported.

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Ecopetrol Expands Presence in Brazil’s Pre-Salt

(Energy Analytics Institute, Piero Stewart, 21.Dec.2018) — Colombia’s state oil company Ecopetrol announced a new block is added to another pre-salt block won jointly with BP and CNOOC. Ecopetrol will hold a 10% stake in the Saturno block, the company reported.

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City Chamber Seeking Governance For ‘Formidable’ Oil And Gas Sector

(Stabroek News, 20.Dec.2018) — While the Georgetown Chamber of Commerce and Industry (GCCI) is upbeat about the prospects of Guyana landing a “formidable” oil and gas industry, it wants to see movement in the direction of complementary investments in the various other critical sectors that have a bearing on the overall development of the country, reported Stabroek News.

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