Wintershall Deathe German corporation specialized in hydrocarbon exploration, has announced plans to intensify its operations in Argentina with the drilling of 12 new wells in Argentina, specifically in the Aguada Pichana Este field, located in the shale-rich Vaca Muerta gas formation in the province of Neuquén.
This announcement was made in conjunction with the presentation of financial results for the fourth quarter of 2023, where the company reaffirmed its significant contribution to the Argentine hydrocarbons sector during 2023, consolidating its position as one of the main gas producers in the country.
About new wells in Argentina
The company emphasized that Aguada Pichana Este, operated by its partner TotalEnergiesis key to its future development activities, with 79 wells already in production and plans to expand this figure by 2024. Manfred Boeckmann, Managing Director of Wintershall Dea in Argentina, highlighted the success of recent operations, which have exceeded initial expectations, including the drilling of new gas wells to increase production.
In the offshore area, in Tierra del FuegoWintershall Dea plays a crucial role in the CMA-1 reservoir cluster, contributing approximately 16% of the country’s gas production. The Fénix project, located in this license, stands out as one of the most relevant gas ventures in Argentina. Boeckmann reported significant progress at Fénix, including the successful installation of a prefabricated production platform, anticipating that the project will supply significant volumes of natural gas for more than 15 years, with initial production expected by the end of 2024.
In addition, Wintershall Dea revealed its 2023 financial results, reporting EBITDAX of €4.2 billion and adjusted net income of €513 million, reflecting solid performance despite macroeconomic challenges. The year marked a turning point for the company, with the decision to withdraw from Russia and the subsequent signing of a merger agreement with Harbour Energy, which will involve the transfer of its exploration and production operations, excluding the parent company and head office equipment.
This set of strategic moves by Wintershall Dea not only underscores its commitment to sustainable energy development in Argentina, but also reflects the changing dynamics of the global energy sector. The transition to greater efficiency and sustainability, together with corporate restructuring, positions Wintershall Dea as a key player in promoting clean energy and technological innovation in the industry.
Don’t miss any of our posts and follow us on social media!
Inspenet.com YouTube LinkedIn Facebook Instagram
Source: lmneuquen.com
Loading...
