Source Pravda.Ru

Petrobars' Oil Discovery In Argentina

Petrobras has made its first oil discovery in Argentina. This is Petrobras' first discovery, as operator, in the Argentine territory.

The find was made in Puesto Zuniga Area, Block CNQ-32 in the Neuquen Basin, by drilling the exploration wildcat well "PZX-1001", located a few kilometers off Cinco Saltos town, in the province of Rнo Negro. The hydrocarbons were found in the Lajas formation, 3,650 meters deep. The well is still under evaluation and the initial production rates were of 82m3 of condensate oil and 240,000 m3 of gas, per day. The economic feasibility will depend on future studies and evaluations, including additional drilling.

This discovery is a company step to achieve the objective of turning Petrobras Argentina into a company fully integrated into Argentina's oil industry. The result confirms the adequacy of the exploration strategy and fosters new investments in the country.

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