BUENOS AIRES, Jan. 27 (Xinhua) -- A private company has discovered a new oil field in the southern Argentine province of Chubut that could more than double the region's production, Chubut Governor Mario das Neves told Sunday's edition of the Clarin newspaper.
Pan American Energy (PAE), a joint venture between Britain's BP and Argentina's Bridas, located the field, some 1,400 km south of Buenos Aires with three 2,100-meter wells, the governor was quoted by the Buenos Aires-based newspaper as saying.
The new deposit is close to the north of Cerro Dragon, a 3,400-square kilometer deposit that is one of Argentina's most productive fields. Dragon produces 7 million cubic feet of natural gas daily and more than 14,000 cubic meters of oil.
The new field will add 80 million to 100 million barrels a year to Chubut's total production, currently nearly 60 million barrels a year.
Das Neves said that PAE's directors will meet Argentine President Cristina Fernandez on Monday to give her details of the find.
"This is the most important find in the nation in recent years," the governor said.
Chubut hosts 41.5 percent of Argentina's crude oil reserves.
Pan American Energy (PAE), a joint venture between Britain's BP and Argentina's Bridas, located the field, some 1,400 km south of Buenos Aires with three 2,100-meter wells, the governor was quoted by the Buenos Aires-based newspaper as saying.
The new deposit is close to the north of Cerro Dragon, a 3,400-square kilometer deposit that is one of Argentina's most productive fields. Dragon produces 7 million cubic feet of natural gas daily and more than 14,000 cubic meters of oil.
The new field will add 80 million to 100 million barrels a year to Chubut's total production, currently nearly 60 million barrels a year.
Das Neves said that PAE's directors will meet Argentine President Cristina Fernandez on Monday to give her details of the find.
"This is the most important find in the nation in recent years," the governor said.
Chubut hosts 41.5 percent of Argentina's crude oil reserves.
