After several diplomatic contacts, a Russian delegation will arrive to Vaca Muerta this Wednesday (1st October) for having a definitive and first-hand view of the famous site in Neuquén. The government of Neuquén stated that the governor Jorge Sapag and the Energy Minister Guillermo Coco will receive the Russian delegation that will include strong men of the government and several businessmen. This was the event that Sapag and Coco were expecting, since both are attempting to attract businessmen to any of the 77 areas assigned to the provincial company GyP in Vaca Muerta to create a society.
According to the new Hydrocarbons Law, which must be approved by Congress, GyP retain the power to negotiate lucrative contracts of “carrying”, without putting money, between 10 and 20% of their own blocks. The Russian delegation will arrive in two shifts and will stay in the region for 10 days to analyze the possibilities.
Sapag is expecting that in 2015, investments will be for about USD 6,000 million and if this meeting goes well, the projected figure could rise between 2000 and 3000 million more. In 2014 oil investments exceeded USD 5,000 million. Businessmen and officials will also include other topics in the conversations, including: the Chihuido dam that requires an investment of $15,000 million and the alternatives of the wine and fruit sector. Russia is one of the buyers (in large volumes) of fruit that the Alto Valle of Rio Negro and Neuquén has.
The Russian delegation will include representatives of ENEX, Rushidro and Gazprombank Group, a financial institution of Gazprom. These entrepreneurs will meet with Sapag, Julio De Vido and other governors of oil provinces that will join them. The Russian delegation will be led by Russian Deputy Prime Minister Arkady Dvorkovich, a confidant of Vladimir Putin.
Date: October 1, 2014