Tecpetrol, Petrobras Consortium Win Hickman Concession

A consortium of Argentine oil companies Tecpetrol and Petrobras Energia (NYSE: PZE) have won the exploration concession for the Hickman block in northeast Salta province, Tecpetrol said in a statement to the Buenos Aires stock exchange.

The two companies will have equal shares in the 6,555 sq km block. Tecpetrol will act as operator.

The consortium plans a US$18.7 million investment in exploratory works over the next four years.

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