Velitec Reshapes Operations in Tierra del Fuego

Velitec, a Cordobesa firm, has taken over the operations of mature oil fields in Tierra del Fuego from YPF. With an initial investment of $6 million and plans to intervene up to 100 wells in two years, Velitec aims to reduce operational deficits by revamping contracts and increasing production.

The company currently controls a base crude production of 174 cubic meters per day and 500,000 cubic meters of gas daily. They also manage propano plants in San Sebastián, crucial for the local GLP supply which is currently imported from Bahía Blanca.

Velitec plans a workover and pulling campaign to boost production by 20-30%. The firm will also review YPF's abandoned well plan, potentially recovering economically viable wells. Long-term focus lies on unconventional resources in the region, inspired by Vaca Muerta's success and initial pilot tests in Santa Cruz.

Fuente: Ver original en EconoJournal.