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YPF and PDVSA will join forces

Published on Aug. 1, 2012

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Argentina’s President Cristina Kirchner and Venezuela’s President Hugo Chávez signed a document to establish a strategic alliance between the Argentinian oil company YPF and Venezuelan PDVSA.

As the document states, the main objective of this agreement is “joint planning the hydrocarbon value chain in Bolivarian Republic of Venezuela and Republic of Argentina.”

Furthermore, it is intended to create “associations for the estate companies from both countries to optimize current projects and future projects development.”

The alliance sets “PDVSA to join oil and shale gas exploration projects in Argentina and PDVSA and YPF to take part in the in the mixed company to established in the area Ayacucho 6 of the Oniroco Oil Belt. Likewise, PDVSA will join “Transitory Business Union (UTE)”.

Repsol finds in Brazil a third oilfield in the Campos Basin

Published on Feb. 27, 2012

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The National Securities Market Commission was informed by Repsol Sinopec Brasil that the company had found a new oilfield in the deep waters of the Campos Basin in Brazil.

The deep pool, so-called Pao de Açúcar, is located in the sector BM-C-33, in a 2.800 water sheet and it present two hydrocarbon accumulations with a 500 meter total height, one of the biggest heights found in Brazil up to now. First evaluations show that Pao de Açúcar contains high quality resources potential and excellent oil flow rates. Production tests scored 5.000 crude oil barrels and 807.349 cubic meters of gas daily.

The discoverer consortium, composed by Repsol Sinopec Brasil (35%), Statoil (35%) and Petrobras (30%), will perform ...

Repsol's largest oil discovery in its history, in Argentina

Published on Nov. 10, 2011

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 After several years of prospecting Repsol has found a treasure in Argentina's Neuquén province, in Patagonia, close to the Chilean border. In this area, called Sierra de Vaca Muerta, Repsol holds oil concession rights over an area of ​​12,000 square kilometers, of which, so far, has focused on a small region of only 428 kilometers called La Lata Norte.

The analysis threw, through the 15 open wells, an estimation of reserves  amounting to 927 million barrels, making it the largest discovery in the history of the company. Other explorations taking place in other areas of Sierra de Vaca Muerta are also revealing a promising future.

This discovery in Patagonia will allow Repsol to double in a few ...

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