They invest 550 million dollars in Vaca Muerta for the development of shale gas

A group of oil companies will invest $ 520 million to operate a new unconventional hydrocarbon zone at Neuquén. The plan will be extended from five years and will be in charge of Pampa Energía, Mobil Argentina and Total Austral as part of a company in which the company owned by Marcelo Mindlin will have interest 45.5%, Mobil 50.9% and Total 3.4%.
The project was sealed with the provincial government and allows the companies to obtain a new concession of unconventional oil exploitation in the area Sierra Chata for the 35 coming years. The agreement provides for the development of gaseous and tight shale in the region of Vaca Muerta which is located 150 km northwest of the town of Neuquén and has an area of 863.8 km2.
According to the data provided by Pampa Energía the company is the operator of the concession and the amount committed by the owner of Edenor, among other badets, for investments will be canceled with a premium of & # 39; And a contribution to corporate social responsibility for $ 30 million .

"This project is in line with the company's strategy to focus its investments in the exploration and production of natural gas, with a focus on the development and exploitation of reserves. unconventional gas ", adds Pampa Energía through a press release.
In the case of Neuquén, this is the unconventional concession number 28 in the province and companies engaged in 24 horizontal wells, 15 in Vaca Muerta and 9 in the region from Mulichinco.
The agreement includes unique upfront payments of [$ 33.6 million] including $ 22.8 million in the concept of operating premium ; $ 7.1 million for Corporate Social Responsibility (CSR); and 3.6 million US dollars for the stamp tax.