The German Wintershall DEA will invest
more than 450 million euros in two developments
: the Fénix project -in Tierra del Fuego- and Vaca Muerta.
The disbursement "will at the same time reinforce Argentina's role as a key country in our global portfolio," according to Thilo Wieland, a member of the board of directors and head of the company for Latin America.
The operations of the German company in the country are
the third in the world with the highest income,
even above its territory of origin.
In 2022, it obtained 479 million euros
, which represents a growth of almost 20% compared to the 402 million it had billed in 2021.
Norway is the largest country for Wintershall, with a turnover of 2.883 million.
In Russia they obtained almost 1,800 million, but the company announced that it will part with those assets, due to the war that exists in that country.
The company
has trapped 186 million euros in Argentina and Egypt.
"Subject to restrictions on foreign currency money transfers" as reported by the company in its results.
in local operations, but resorted to an answer that he used several times: "We have a long tradition of operating in the country."
Faced with each question about Argentine problems, he answered the same or evaded the question.
The executive praised the
advances in the gas pipeline that will link Vaca Muerta with Buenos Aires.
The Fénix project, which Wintershall owns in Tierra del Fuego,
contributes 15% of the total gas consumed in the country
.
There it is associated with TotalEnergies (which is the operator) and with Pan American Energy (PAE). The consortium's total investment amounts to about US$ 700 million to continue expanding this project.
There they own 37.5% and estimate to reach a maximum expected production of 10 million cubic meters of gas per day for 15 years.
In Neuquén, WIntershall participates in different associations.
In
Aguada Pichana Oeste
it has 27.3%, the same as Total Energies -which operates it- and YPF and PAE are also partners (18.1%).
It is a conventional deposit.
In that same block, Wintershall Dea owns 22.5% of the shale gas interests in Vaca Muerta (also operated by TotalEnergies - which owns 41%), while YPF owns 22.5% and PAE 14%.
Another of its interests is the
San Roque block
, with the same partners as before and with Total as operator.
Over there.
YPF owns 34.1%, Wintershall and Total hold 24.7% each and PAE 16.5%.
The company is eyeing
hydrogen projects
around the world, and
Argentina could be targeted
.
Regarding the participation in the construction of an LNG plant in the country - a project owned by YPF and another led by private companies - Wieland did not rule them out either but did not provide any precision or certainty.
Wintershall has been in the country since 1978 and has a production equivalent to 63,000 barrels per day (with a heavy weight of gas).
It operates offshore platforms in Tierra del Fuego.
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