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Wintershall and Argentine Gas y Petróleo del Neuquén signed an agreement

December 24, 2015
The German company Wintershall and Argentine state-owned Gas y Petróleo del Neuquén signed an agreement under which Wintershall will increase its stake in the project to develop oil and gas block Aguada from 50% to 90%. It is reported by World Oil. Back in March of this year Wintershall baseline on the block, drill two exploration wells. These wells will provide important information about the features of oil and natural gas located in the vast field of shale Vaca Muerta.
It should be noted that Argentina is the second largest after the US owner of shale deposits. This South American country has the second is the world's largest deposits of shale gas and the fourth - oil. Because excessive interest in the region Vaca Muerta surprising. German drillers only slightly ahead of the world's largest oil company ExxonMobil, which breathes their head. Americans are going to invest in oil shale in this field 13.8 billion. Dollars, and are preparing a contract.
At the initial stage of the study will be invested 229 million dollars. Experts Exxon proburyat five hydraulic fracturing of horizontal wells with lateral branches to 2,5 thousand meters long each. If the research will give good results, Exxon plans to drill 556 horizontal wells. In general, 13.8 billion. Dollars - this is a very big investment, even for giants such as ExxonMobil. This is an unprecedented contract to develop oil shale outside the United States, which immediately gave Argentina the world leaders in oil shale industry.
December 24, 2015
Energy Policy. Oil and gas materials for World Oil