UTE Acambuco's Macueta 1001 Well Starts Output


The UTE Acambuco consortium has begun production of the Macueta 1001 natural gas well in Argentina on the Macueta-Piquiernda field in Salta province's San Martin department, the Salta provincial government reported in a statement.

UTE is 52%-controlled by Anglo-Argentine firm Pan American Energy (PAE). The well is part of a US$110mn project to produce an additional 2.5 million cubic meters a day (Mm3/d) on top of the current 5.5Mm3/d.

The project involved drilling the Macueta 1001 well and building a 60km gas pipeline from Macueta to the town of Piquirenda, where the capacity of the company's gas-processing plant has been expanded to 8Mm3/d from 5.5Mm3/d.

The project aims to supply northwest and central Argentina's residential and industrial consumers, the statement said.

Spanish oil major Repsol YPF (NYSE: REP) holds a 22.5% stake in UTE Acambuco, while O&G, an affiliate of Anglo-Dutch oil major Shell (NYSE: RDS-B) holds 22.5%. Apco Argentina, majority owned by US oil company Williams and local firm Northwest Argentina, each hold 1.5%.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.