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YPF Provides Record High Production in Chubut

Source: www.gulfoilandgas.com 6/10/2014, Location: South America

The president and CEO of YPF, Miguel Galuccio, announced that the company broke its own record production in Chubut, when in May of this year reached 37,139 barrels of oil daily average.

A historic brand that exceeds both the record levels of last October, as the highest record in the last three decades, dating back to February 1985 (from 37,060 bbl / day). The news was announced by the president of YPF under the act for the 52 anniversary of the Union of Private Oil and Gas del Chubut, who shared with Governor Martin Buzzi and more than 300 workers in the basin. The sustained growth of the production of YPF in the province is the result not only of increased levels of investment, but also "of work and family that makes every one of the people who work in this industry effort," said Galuccio during his presentation that had place in the guild hall.

"Our people are capable of generating record production in wells with over 100 years of history. This shows that the future is not closed, is in our hands. I would like all Argentines can appreciate the work and responsibility of the people who make it possible for energy every morning, "said Galuccio. attended the event also Senator Marcelo Guinle, Director Chubut YPF; Oscar Cretini, Hydrocarbons Minister of Chubut, Ezequiel Cufré; the deputy mayor of Comodoro Rivadavia, Carlos Linares; Secretary General of the Union of Oil Hierarchical Jose Lludgar; Secretary General of the Union of Oil and Gas Private Chubut, Jorge Avila; and authorities YPF. Previously, the delegation headed by Galuccio and Buzzi visited the first unconventional well Chubut, the Exp-914 where last week YPF confirmed the presence of non-conventional hydrocarbons for the D-129 training. "I thank the workers for the invitation.

Glad to be here, to share with them this day and visit a well that may be as important for the future of Chubut and the basin, "said the president of YPF referring to discovery that could expand the resources of hydrocarbons basin Golfo San Jorge. Traveled in the location, Galuccio highlighted the results of the exploratory well yielded 39 ° API oil and gas calorific value of 11,000 Kcal/m3, above average quality in the basin, and discussed the progress of this first draft unconventional exploration in the province of Chubut.

There, in addition, the Union of Oil and Gas Private Chubut discovered a plaque commemorating its 52 th anniversary. YPF in Chubut Oil production in the province of Chubut grew in the first quarter of 2014 by 10% relative to same period in 2013, from 32,000 to 35,200 barrels per day, respectively. During this quarter, YPF paid 201 million dollars in royalties to the province of Chubut, double that of the same period last year. During 2013, the company invested in productive activity Chubut $ 367 million, 32% more than in 2012.

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