The highest authorities of the company in Argentina announced this to the Minister of Economy, Sergio Massa, in a meeting held at the Palacio de Hacienda.
The Minister of Economy, Sergio Massa, and the Secretary of Energy, Flavia Royonreceived this Friday the highest authorities of Chevron in Argentina, which announced an investment of US$500 million for the development of El Trapial in Vaca Muerta.
During the meeting, Massa promised to include Trapial in Decree 929/2013, which provides the right to freely market 20% of the production of liquid and gaseous hydrocarbons produced in the projects reached in the foreign market, with a 0% rate. export duties, if applicable.
As detailed by the Chevron authorities, the investment will be entered into Argentina before the month of July of this year.
In April, the Government of Neuquén announced that it would grant the unconventional hydrocarbon exploitation concession (Cench) to Chevron as operator and owner of El Trapial Este, which has an area of 282.80 square kilometers, and is derived from the Concession of Exploitation of the El Trapial-Curamched area, also under the ownership of the Chevron company.
This will make it possible to continue expanding the territorial base of the Vaca Muerta development to the north of the formation.
With this project, the province adds 43 unconventional shale and tight projects, covering an area of 9,532 square kilometers, which represents 32% of the total area of Vaca Muerta in the province of Neuquén.
Source: Ambito
