Tecpetrol Inks Exploration Assistance Deal with Tierra del Fuego

Argentina's Tierra del Fuego provincial government has signed an agreement with oil company Tecpetrol to evaluate "development and exploration" of the province's hydrocarbons reserves for future tender processes.

The agreement calls for "reciprocal collaboration" on the studies as well as the implementation of a technical consulting system and training of personnel, a provincial government spokesperson said, confirming a report from news aggregator TierradelFuego.info

"We are now beginning an exploratory study and within six months will evaluate the following phases that will require 2-3 years of work," the report quoted a Tecpetrol executive as saying.

The province's economy minister Raul Berrone said Tierra del Fuego aims to launch its first tender process toward the end of this year.

The province has yet to define the operating conditions, but Tecpetrol has expressed interest in future E&P works.

Tierra del Fuego is the only province in which Tecpetrol is not yet active.

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