Argentina has launched a tender process to build a new gas pipeline out of its huge Vaca Muerta shale formation that is expected to increase current transport capacity by 25%, the government said late on June 3.
Companies have until July 8 to submit bids, according to a publication in Argentina's official gazette.
The pipeline will have a length of 563 km (350 miles) and connect the province of Neuquen with Salliquelo, an area west of Buenos Aires.
The estimated cost of the project is $1.5 billion and would take about 18 months of work to complete construction.
Argentina aims to reverse a major energy deficit in the South American country and bring in much-needed foreign currency through gas exports.
The Vaca Muerta shale formation is the world's fourth-largest shale oil reserve and the second largest for shale gas.
Recommended Reading
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
Gibson, SOGDC to Develop Oil, Gas Facilities at Industrial Park in Malaysia
2024-02-14 - Sabah Oil & Gas Development Corp. says its collaboration with Gibson Shipbrokers will unlock energy availability for domestic and international markets.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.
Second Light Oil Discovery in Mopane-1X Well
2024-01-26 - Galp Energia's Avo-2 target in the Mopane-1X well offshore Namibia delivers second significant column of light oil.