Argentina's YPF, Chile's ENAP Agree Extra $200M for Offshore Gas Project
BUENOS AIRES, Nov 17 (Reuters) - Argentina and Chile's state-run energy firms said on Monday they had agreed to invest an extra $200 million to increase natural gas production off the southern tip of South America.
The investment will help boost output from the Magellan Straits project to about 4 million cubic meters per day from the current 2.4 million cubic meters, Argentina's YPF said in a statement.
YPF and ENAP also agreed to extend the joint production deal beyond the existing August 2016 expiry date. The length of extension will depend on negotiations between YPF and the central government and YPF and the federal province of Tierra del Fuego.
(Reporting by Eliana Raszweski; Editing by Richard Lough, Bernard Orr)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Sea Trucks Bags Pipelay Construction Deal in Magallanes Field Off Argentina (Jul 05)
- Argentina's YPF, Chile's ENAP Agree Extra $200M for Offshore Gas Project (Nov 17)
- ENAP: Chile Eyes Use Of US Shale Gas In Early 2016 (Jul 15)
Company: YPF SA more info
- Argentina's YPF To Invest $21.5B From 2018 To 2022 (Oct 25)
- Indigenous Mapuche Thwart Argentina Shale Development (Sep 08)
- Argentina's YPF CEO Resigns, 6-Member Exec Committee To Run Firm (Aug 28)