Mendoza awards oil concessions worth over USD 45 million

The Government of Mendoza has awarded concessions for two hydrocarbon areas, Atamisqui and El Manzano, representing a combined investment commitment of over USD 45.9 million during the first ten years. The concessions, which carry a 25-year term, were formalized through decrees signed by Governor Alfredo Cornejo.

Atamisqui, located in the Cuyana Basin, was awarded to Petróleos Sudamericanos S.A. The company committed USD 15,007,000 for the initial decade, which includes drilling new wells and performing interventions on existing ones.

El Manzano, situated in the Neuquina Basin, was awarded to Venoil S.A. This company committed USD 30,975,000 for the first ten years, with a planned initial payment and a 7% royalty rate.

Energy and Environment Minister Jimena Latorre stated that these investments will translate into new wells, secondary recovery, and the reactivation of inactive wells, providing work for service providers and royalties for the province.