The governor of Neuquen, Rolando Figueroaconditioned the adhesion to the RIGI promoted by the national government, demanded the regulation of the reformed Hydrocarbons Law to enhance Dead Cow and announced that it is preparing provincial regulations to attract more investments to the province.
“Neuquén actively participated in the drafting of the new Law (on Hydrocarbons), and more than 75% of its content was agreed upon by our technical teams. But we have not yet joined the RIGI because to do so we are waiting for the regulation of that Law and to know in detail the new rules of the game that are imposed,” he said. Rolo Figueroa in celebration for the 110 years of Shell in Argentina.
“We have not yet joined,” responded when the CEO of the oil company German Burmeister He asked him about the initiative during a one-on-one interview. “We are waiting for the regulation of the law (recently reformulated) to know in detail the new rules of the game that are imposed”he responded before an auditorium packed with oil and gas businessmen.
But the governor went one step further, and before Dead Cow surrounded by pickets and roadblocks due to the demands of the Mapuche communities, he assured that they plan to launch their own RIGI to attract investments. “We will complement this with a provincial law that rewards and attracts the marginal productivity of different activities,” Figueroa said, adding: “These different activities will be focused on the development that we are envisioning as a province, where there will be tax deferrals and financial support for our companies.”
The Neuquén RIGI already has a name and will soon enter the local Legislature. It will be called Invest in Neuquén and unlike the national regime, There will be no minimum investment limit of US$200 million. According to the Province, this incentive will be for amounts between zero and infinitywith a distribution of incentives or benefits by region and by activity, depending on each region. And furthermore, it will not only be used to develop hydrocarbons, but also tourism and local production.
“We are a province that respects and defends federalism, and within that defense of federalism it is essential to respect the rules of the game; but we will be the first to speak up if the rules of the game are changed,” he stressed at the Shell event.
The next day, during a In a presentation to business leaders in the sector in Houston organized by the IAPG, Figueroa confirmed a similar message. “The provinces are the owners of the resources. The national government sets some rules and the province sets others as well. But the important thing is that they complement each other and are in line to be able to provide you with security in your investments,” he said.
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“If we generate more resources and reinvest the profits from oil and gas, we will get out of the trap more quickly. If we get out of the trap more quickly, it will bring many more investments.. They are necessary to work in a coordinated manner with the industry. The rules of the game in the province are very clear”he ventured.
In this process of exploitation of the Vaca Muerta deposit “we can develop a win-win scheme, with the industry, the unions and the State,” said the provincial leader.
During the talk with German Burmeister, The governor of Neuquén also stressed that the process of exploiting Vaca Muerta is “a win-win, if businessmen, unions and the State come to an agreement” and stressed that the impact of the formation of non-conventional “it has to be planned jointly.”
“It would be the biggest failure in history if we do not make this happen. For that we have to develop the infrastructure” in the province along with the industry, said Figueroa.
The president stressed that from the production of Dead Cow We will reach the same level of production as the Humid Pampas (the countryside) today, and in addition, “we will become a country that is self-sufficient in energy, something that not all nations have.”
Source: Ambito
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