Restituita stringa vuota

Affari in corso

11 GIUGNO 2019

19:06 - Argentina


(ICE) - ROMA, 11 GIU -

Although the Vaca Muerta phenomenon tends to take all the attention, the province of Tierra del Fuego lives its own energy boom. As highlighted by the local government, the San Martin field became the largest oil production in the country with a volume of 10.000 m3 per month, with an investment of more than UDS 280 million . In addition, it has an excellent quality. It is light Medanito type oil, something very unusual in this area where heavy crude oil is usually found.

It is a discovery that completely changed the provincial energy dynamic, more focused on gas development. Crude shipments are so large that the ships fail to transport all the production, which has to be sent by truck to Chile. The enthusiasm on the island is total and they are already starting to plan very ambitious projects. The obsession is to take advantage of the tax exemptions of Law 19.640 to industrialize the resource and create some 4.000 jobs, a relevant figure taking into account the population of Tierra del Fuego.

One of the main objectives is to become a large petrochemical center that has the great advantage of being supplied with cheap gas a few kilometers away to export higher value-added products. In this sense, progress is being made in an alliance between oil companies in the area and foreign capital to install a polypropylene plant and another one of granulated urea, a fertilizer with a high nitrogen content. The idea is to export everything from a new port in Rio Grande that will give this zone another dynamism.

At the same time, the imminent entry into production of the Fénix mega gas field, which with 10 million cubic meters of gas a day will double the provincial volumes, project a scenario of abundance such that even with the construction of this petrochemical center there could be gas left over. As a result, they are already working with national authorities to expand the transport capacity of the San Martín gas pipeline - which is almost to the limit - and some are even enthusiastic about installing a liquefier plant to export Liquefied Natural Gas (LNG).