UTE Consortium Wins Medanito Sur E&P Concession
The government of Argentina's La Pampa province has awarded an E&P permit for the 100 sq km Medanito Sur hydrocarbons area to local consortium Union Transitoria de Empresa (UTE), according to a government statement.
UTE agreed to a 41.5% royalty including an additional 23.5% royalty on top of the 18% obligatory rate from the sixth year onward.
UTE is made up of Argentina's state energy company Enarsa and local diesel and fertilizer distributor Raiser.
La Pampa also received bids from Canadian oil company Petrolifera Petroleum, local firm Oil M&S and a local consortium made up of Petrosiel, Energial, and Gregorio, Numo y Noel Werthein.
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