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Following a period of successful growth, Premier Oilfield Rentals continues to be one of the leading suppliers of drilling related products to the international oil and gas industry. Owned by Superior Energy Services Inc., Premier currently has business units in Europe, Africa, Middle East, Asia Pacific and CIS.

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LIVE

Friday, 21 November, 2008, 19:50 GMT | more >>

Buenos Aires plans onshore shake-up

By Upstream staff

Argentina's federal government and the nation's 10 hydrocarbon-producing provinces have reached a deal which could see the provinces take control of their energy resources, according to reports.

News agency Efe said the accord, which will take the form of draft legislation to be presented to the national congress, would give the provinces authority to negotiate contracts with the private companies active in Argentina's upstream sector, a power which currently resides with Buenos Aires.

However, the federal government will retain control of offshore resources.

The agreement was signed by federal Planning Minister Julio De Vido and the governors of 10 energy-producing provinces in front of President Nestor Kirchner.

If the legislation is passed, the provinces would negotiate new contracts once the private companies' current deals expire.

"This an old aspiration of the hydrocarbon producing provinces," Julio Cobos, the Governor of Mendoza, told Efe.

Cobos presides over the Organization of Hydrocarbon Producing Provinces, a grouping which covers Menoza, Neuquen, Rio Negro, Chubut, Santa Cruz, Tierra del Fuego, Salta, Jujuy, Formosa and La Pampa provinces.

According to the accord, the provinces would also take control of regulating and supervising the transportation of oil and gas within their boundaries, including deciding when and where pipelines should be built.