Salta Signs E&P Agreement with China's JHP
Argentina's Salta province has signed an agreement with Chinese oil company JHP International Petroleum Engineering to begin a joint hydrocarbons work program, the provincial government said in a statement.
JHP is willing to invest US$100mn-500mn in the province depending on the opportunities available, the statement said.
The work program will include technical cooperation between the government and JHP and the two entities will carry out development and execution studies for potential hydrocarbons projects.
This agreement marks the first time an Argentine province has signed an accord with a Chinese firm, the statement said.
JHP is an integrated oil engineering services provider with subsidiaries in Libya and Kazakhstan. The company focuses its core business on engineering services including drilling, well logging, down hole operation and oilfield construction engineering.
Also on Salta's exploration front, the province's production and labor ministry plans to publish bidding rules on April 10 for six E&P contracts in the Chaco-Saltena region covering 29,000 sq km.
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