(Energy Analytics Institute, Aaron Simonsky, 14.Jun.2019) — Argentina’s Energy Secretariat Gustavo Lopetegui highlighted investments announced by Exxon Mobil destined for the massive development the Bajo del Choique – La Invernada block during the 6th Vaca Muerta Executive Board meeting that took place 14 June in Neuquén.
“There are already four companies with scalable projects related to the production of oil, which will allow us to become frequent exporters of crude oil during the coming year,” reported Argentina’s Energy Secretariat in an official statement, citing Lopetegui.
Related Story: Sixth Vaca Muerta Executive Board Meeting In Neuquén
Argentina is working to simplify the export process for oil companies to the extent that the production surplus is permanent and predictable, Lopetegui said. Additionally, during the first half of July a tender will be launched for the construction of a new natural gas pipeline that will increase Vaca Muerta gas evacuation capacity, he said.
“It’s been 30 years since a gas pipeline was built in Argentina. Our goal is to award it in October and have it available for the winter of 2021,” Lopetegui said. “This will allow Argentina to substitute imports of liquefied natural gas (LNG), while increasing exports.”
In terms of the growth potential of Vaca Muerta, the Energy Secretariat said the availability of competitive hydrocarbons allows Argentina to think about growth of other industries such as petrochemicals and other intensive energy user industries.
Related Story: ExxonMobil Moving Forward With Vaca Muerta Expansion
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