Central Puerto seeks Vaca Muerta concession to enter oil and gas market

Central Puerto, Argentina's leading electricity generator, has submitted a technical draft to the authorities of Neuquén to obtain a Non-Conventional Hydrocarbon Exploitation Concession (CENCH). This move aims to allow the company to enter the oil and gas market by exploiting resources in the Vaca Muerta formation.

The request follows the company's $50 million acquisition of Patagonia Energy S.A., which granted it control over the Aguada del Chivato and Aguada Bocarey blocks. CEO Fernando Bonnet confirmed that the firm is currently conducting geological analyses and technical due diligence to characterize resources and reduce uncertainty before committing capital.

Approval of the technical draft is subject to regulatory and environmental evaluations by the Neuquén government. Through this expansion, Central Puerto seeks to diversify its assets and move directly into primary energy production.