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Friday, March 31, 2023

Vaca Muerta will receive investments for US$8,000 million this year

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The Minister of Energy and Natural Resources of Neuquén confirmed this to Ámbito. They estimate that the province will double its exports this year.

enthusiasm. The Mendoza president also highlighted expectations for the reactivation of the Potasio Río Colorado mine.

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Dead cow It is no longer a promise, it is a reality. But the current situation certainly sets up a still from a film in development. The Minister of Energy and Natural Resources of Neuquén, Alejandro Monteiro, confirmed to Ámbito that The investment forecast for this year reaches US$8,000 million. Exports would total US$4,000 million and would be very close to doubling the performance of 2022. And there are expectations for the completion of the first section of the Néstor Kirchner gas pipeline.

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The lack of foreign currency has been one of the central problems in the economic situation for years. Which opens the question of whether it is a circumstantial difficulty or rather a structural one. In any case, the meager performance of exports is aggravated by the almost exclusive dependence on the agro-industrial sector, which in the face of climatic circumstances such as the drought that the country is going through, puts the importation of inputs essential to sustain local production at risk.

The growth of hydrocarbon production could be the way out of the labyrinth. The jewel among all the projects is undoubtedly Vaca Muerta. The Minister of Monteiro confirmed to Ámbito that the investment forecast for this year reaches US$8,000 million. This way, Neuquén plans to export some US$4,000 million between oil and gas, which implies practically doubling the values ​​of 2022.

“Vaca Muerta is consolidated as a project, we have more than US$35,000 million invested in the last ten years. What has been achieved is comparable to the United States in terms of effectiveness and efficiency,” the official told this outlet, during the inauguration of the new Training and Technology Center of the oil services company DLS Archer. In this sense, he added: “We have a project that is economically profitable and a resource that is first class. We have to manage to transform that resource into wealth.”

On this last point, the need to generate State policies that guarantee a certain level of stability for the sector appears as a challenge. This medium published weeks ago an exclusive dialogue with the governor of Jujuy Gerardo Morales, where the leader of radicalism asked his legislators to “approve the LNG project that will be discussed in parliament.”

Far from what a certain popular imaginary indicates, the hydrocarbon industry mobilizes many other sectors of the economy. Apart from metallurgical or metalworking suppliers, the services associated with the activity are growing: health, construction, input companies, among others. In the City of Neuquén they expect the arrival of some 1,000 new companies, a third industrial park will be inaugurated and some 97 buildings are in the development stage.

The reflection of one of the businessmen present at the DLS event, which culminates in an investment process of more than US$25 million, is eloquent: “If with the level of uncertainty that the economy has gone through in recent years, we have managed to accelerate the levels of of production, with three or four State policies and a stable macro, this flies”. Be?.

Source: Ambito

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