The concession was extended to the companies Total Austral and Wintershall, which each own 37.5% of the exploitation, and to Pan American Sur, which has 25%. The area covered by the decree is 1,948.57 square kilometers and is located around the province of Tierra del Fuego.
The measure also approved the investment and works plan committed by the three companies for the extension period of the exploitation concession, from May 1, 2031 to April 30, 2041, and which will represent an investment of US$700 million. .
In addition, the amount of the extension bond was established at US$15.27 million, which must be deposited within the next 90 business days.
On the other hand, from the entry into force of the extension, the companies will pay the national State 15% as royalties on the product of the hydrocarbons extracted from the plots of the CMA-1 Area.
This area has a natural gas production flow of around 20 million cubic meters per day, representing between 13.8% (2011) and 16.7% (2020) of the total natural gas produced in the country. .
Source: Ambito
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