Project Profile
Value: US$ 100-200 Million (estimate)
Location: Southern province of Santa Cruz, Argentina
Reserves: 50 million barrels of conventional oil reserves (Santa Cruz-Fraction C block, 2016)
Oil Production: 270 bpd (Santa Cruz-Fraction C block, 2016)
Gas Production: 100,000 cm/pd (Santa Cruz-Fraction C block, 2015)
The Laguna de los Capones, Santa Cruz, Fraction Blocks are located in the southern province of Santa Cruz, Argentina. The project is made up of the following oil fields; Santa Cruz I-Fraction A, Santa Cruz I-Fraction B, Santa Cruz I-Fraction C, Santa Cruz I-Fraction D, Santa Cruz II-Fraction A and Santa Cruz II-Fraction B. In 2016 Compania General de Combustibles (CGC) secured a 10-year extensions to its licences for the oilfields until 2026-27 for exploration and development. In February 2016, 50 million barrels of conventional oil reserves on the Santa Cruz-Fraction C block were found, with initial tests showing production flows of 270 bpd. This followed a find in 2015 on the same block of 40-50 bcf (1-1.4 bcm) of gas, which yielded an initial 100,000 cubic metres per day.
Operators:
Compañía General de Combustibles S.A. (CGC) : Operator with 50% interest
Echo Energy: 50% interest (farm-in November 2017)