Total gets extension on Argentine concessions
Total SA has secured a 10-year extension on its operated Aguada Pichana and San Roque concessions in Argentina from 2017 to 2027.
OGJ International Editor
LONDON, Feb. 11 -- Total SA has secured a 10-year extension on its operated Aguada Pichana and San Roque concessions in Argentina from 2017 to 2027.
The acreage, which has plateau production of 870 MMcfd of natural gas and 10,700 b/d in liquids, is in Neuquen province in northwestern Patagonia. The fields constitute 70% of operated production.
Total has maintained this production because it has been successful in exploration, tied-in satellite discoveries, and gradually ramped up compressor capacity.
Total operates both concessions, with a 27.3% interest in Aguada Pichana and a 24.7% interest in San Roque.
"The 10-year extension will enable Total Austral, the group's subsidiary in Argentina, to continue its oil and gas exploration, development and production operations over the long term in the Neuquén Basin," the company said.
Total Austral is the second largest gas operator in Argentina and its equity share of production averaged 80,000 boe/d in 2008. The company also operates the onshore Ara and Canadon Alfa fields in Tierra del Fuego. Other assets are the offshore Hidra, Kaus, Argo, Carina, and Aries fields, in which it holds a 37.5% interest.
Other interests are gas transportation, with stakes in the Argentine network and in gas export pipelines to Chile and Brazil.
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