Tecpetrol, a subsidiary of Argentine industrial giant Techint Group, has announced it plans to invest $2.3 billion in the country’s Vaca Muerta shale formation between now and 2019.
The company will drill 150 wells in the play, which lies in the province of Neuquén in northern Patagonia, over the next three years.
Tecpetrol is seeking to produce around 14 million cubic metres per day by 2019, according to Guillermo Pereyra, the head of Argentina’s most powerful oil and gas union, which represents private company workers in the...
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