Velitec begins workover operations to boost production in Tierra del Fuego

Velitec has launched a new operational phase in hydrocarbon areas in Tierra del Fuego, working alongside Terra Ignis SA. The company has deployed a workover rig to begin interventions on approximately 70 identified wells in mature fields.

According to Velitec President Facundo Araoz, the workover equipment will be used to complete newly drilled wells and reactivate existing wells that have ceased production. The selection process for these interventions will prioritize production potential and lower complexity rather than geographic proximity, aiming to maximize volumes of both crude oil and gas.

Preliminary calculations suggest the project could lead to a 20% to 30% improvement in production over a 24-month period, though results will vary by well. The operation has already generated direct employment, with an initial staff of 12 people and the potential for an additional 12 as further equipment is integrated.