However, the most relevant was what was presented in the ad. On the one hand, the minister stated that he will sign the extension of the Oldelval and Oiltanking concessions to consolidate investments for $1.4 billion and so to expand the pipeline system from Vaca Muerta to Bahía Blanca. The goal is to double the oil transport capacity to the refineries and the port of Buenos Aires.
On the other hand, an investment of US$700 million was announced by a consortium of the companies Pan American Energy (PAE), Total and Wintershall Dea, which plan to carry out an offshore project (Fénix) that will boost the production of gas from the Austral basin. To that end, Law 19640 will be used, which provides for an industrial promotion regime for the province of Tierra del Fuego, which impacts tax and fiscal benefits for these companies.
Another relevant announcement is the regulation of Decree 277. Said decree established a differential exchange regime for companies that increase their production of hydrocarbons. According to Massa, “the regulatory decree will give the sector an enormous number of competitive advantages over the growth of supply from January 1…”, since it “presumes the free availability of foreign currency for those who invest to the extent that that there is growth in production.
A very important point claimed by the oil industry was the uninterruptibility of gas exports. Massa maintained that he will establish by decree “a legal shield that generates credibility with the countries of the region.” The purpose will be for producers to sign firm export contracts for natural gas.
Another frequently mentioned point is the “green channel” for imports. This means that a special system will be created to speed up the import processes of equipment and supplies for the oil industry. In this way, production and service companies will not suffer delays in importing machinery and technology.
The Government also made reference to the second stage of the Néstor Kirchner Gas Pipeline. “We signed the construction contracts for the first stage of the gas pipeline, which if we do everything right, will allow us to save US$2.2 billion next year in terms of gas imports,” he said. He also said that private financing will be arranged to build a gas pipeline between Salliqueló and San Jerónimo, in order to replace the import of gas from Bolivia in frank decline.
Secondly, Massa said that a table will be formed with the Undersecretary of Hydrocarbons, YPF and Enarsa with the objective of “designing a model for the extension of the Gas.Ar Plan” in order to reach the production of 11 million cubic meters per day (MMm3/day) that the Néstor Kirchner gas pipeline will demand. It would be called “Plan Gas.AR 5”.
Source: Ambito
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