Alberto Weretilneck announced the next renegotiation of oil contracts

2023-11-08 11:50:02

Alberto Weretilneck announced this Tuesday in Buenos Aires the future renegotiation of all oil contracts that expire between 2025 and 2027 because “they have already expired” He said and announced that this task will be launched next February.

The previous negotiation with the current concessionaires of the oil areas in the province took place between the end of 2014 and the beginning of 2015 and They allowed the current senator to launch the Castello Plan, during his second term as head of the Rio Negro Executive.

Weretilneck participated in the eighth edition of the Congress on Production and Development of Reserves of the Argentine Institute of Petroleum and Gas (IAPG) and explained that this proposal seeks “sustain the level of activity, generate a new contractual relationship and a new investment plan.”

He added that «Starting in February we will carry out a renegotiation of all contracts that expire taking into account perfectly negotiable and talkable parameters: royalties, gross income and those aspects to lower costs.

The elected president pointed out that “80% of our conventional contracts expire in the year 2025 to 2027, that is, they have already expired” and “to sustain the level of activity, generate a new contractual link and a new investment plan, In February or March we will launch a renegotiation of the extension of contracts with “new parameters, new rules of the game, quite different from what we did eight years ago.”

Faced with the runoff, Weretilneck once again defended federalism

Weretilneck defended the resources of the gas and oil producing provinces and pointed out that “we are two weeks away from defining the next government of our country and in everything that the industry means, the role and importance of the provinces is absolutely clear. “We have to be absolutely clear about the federal issue and, as established by the National Constitution, the ownership of the resource in the hands of the provinces.”

He recalled that in Río Negro “we are the neighbors of Vaca Muerta” and stressed that although “the priority of investments is given to the province of Neuquén, “For a matter of productivity and for a matter of costs, this affects us.”

He acknowledged that “we have had a significant decline in recent years and the province is going to take measures and generate actions in order to try to stop the decline and try to maintain the production we have and if possible, increase it,” he stated.

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