We like to be in Argentina, but we want to earn money

"It is unlikely that we will spend this year in mbad development of our regions," said Mehren, referring to Bandurria Norte and Aguada Federal, still at the pilot stage.

Despite this complex scenario, the company planned to invest some $ 600 million in Argentina in the next three years.

"There have been some changes in the implementation of Resolution 46 (which establishes a subsidy scale for Vaca Muerta gas)," said the chief of production for North Africa, Russia and South America, Thilo Wieland, in the first round. at the 125th Anniversary Petroleum Conference.

In the midst of the tensions caused by the change in the Neuquén Fluid Recovery Price, one of the factors of the increase in production in 2018, the company announced that oil would be more important this year.

"What we can expect from our trend is that we have more oil-focused targets," Wieland told a press conference in which media from around the world participated.

"Resolution 46 has been applied differently, and export taxes do not help us much," he said.

Now, Wintershall also believes in its chances in other parts of Latin America.

"We are also going to Brazil, it is not that it is one or the other (in reference to the choice of positions in this country or in Argentina), but it happens in the frame of a strategy to strengthen our positions in Latin America, "said Wieland.

In the middle of the conference, Mehren wanted to take a stand. "I will also talk about Argentina because I know how we are working there, the concrete thing is that we like to be in Argentina, but we have to make money in Argentina," said the president of Argentina. the society.

"Wintershall has been part of Argentina for more than 40 years, we are the fourth largest producer of natural gas, and for Wintershall, Argentina is also the center of competition for unconventional resources," he said. , while referring to the modification of contracts in the gas sector.

Despite its long-standing presence in Argentina, the company has just acquired seven exploration licenses in Brazil last year, including four as an operator. "This contributes to our intention to have a strong and balanced portfolio," said the CEO.