Petrobras Argentina general manager Alberto Guimaraes told the paper US$1bn would be for maintaining production at older fields, US$450mn towards exploration and US$800mn for operational spending.
"Our production will start to grow in 2007," he told the paper.
Petrobras aims to invest US$300mn in Argentina in 2006 including US$260mn for production and US$40mn for exploration, Reuters reported.
Neither Petrobras nor its Argentine subsidiary Petrobras Energia Participaciones were available for comment when contacted by BNamericas on Monday.
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