Solo: Repsol YPF uses automatic rig for Neuquen area
Repsol YPF gets hi-tech rigs
The Spanish-Argentine energy company Repsol YPF SA dished out $32 million to contract two new generation drilling rigs to use in Argentina through 2010.
The two rigs are the first of eight the company hopes to secure, AFX reported. The rig owner’s name was not reported in media reports in Spain or Argentina.
The rigs, which have the capacity to drill to depths of 1800 and 2000 metres, will help the company apply new technologies to tap crude oil from older reservoirs there, media in Buenos Aires reported.
The Argentine daily La Nacion reported that one new “automatic drilling rig” is currently operating at the Rincon de los Sauces area in the prolific Neuquen basin. The second rig will operate at General Pacheco in Buenos Aires province, the newspaper reported in its online edition.