Bloomberg News

Petrobras to Invest $740 Million in Neuquen Province, Telam Says

April 21, 2012

Petrobras Argentina SA (PESA) will invest $740 million over four years in Neuquen province, the state-run news service Telam said, citing comments by Governor Jorge Sapag to reporters today.

The fields Petrobras plans to invest in don’t include the Veta Escondida concession, which was revoked by the provincial government earlier this year, Telam said.

Sapag said the government-run company Gas y Petroleo del Neuquen is willing to work with foreign partners, including Petrobras and Tecpetrol SA, to develop other fields and the more than 1,000 wells that are idled or abandoned in the province, Telam said.

To contact the reporter on this story: Bill Faries in Buenos Aires at wfaries@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net


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