Movement on the conventional energy board
Santa Cruz is once again at the center of the oil scene with a move that promises to revitalize conventional production in the province. According to information obtained by Shale24, six companies have submitted bids to acquire the areas that YPF decided to abandon in the Austral Basin and the San Jorge Gulf Basin.
Among the interested firms are names like CGC (Compañía General de Combustibles) , which already has a presence in the region, and Selva María Oil , a national operator that has been growing through smaller-scale projects. Proposals also include Interoil , Crown Point Energy , and two other firms whose names have not been publicly disclosed, but which, according to Shale24, have ties to local and foreign investors.
The Santa Cruz Energy Institute (IESC) emphasized that the interest of these companies includes commitments to initial investment in enhanced recovery techniques to maximize production from these mature fields.
At the same time, he maintained that this move not only represents a change of hands, but also a commitment to restoring prominence to conventional production in Patagonia. While the national focus has been on the Vaca Muerta shale formation, the reactivation of these blocks could balance the energy landscape and generate employment in the region.
According to sources close to the sector, the Austral Basin and the San Jorge Gulf Basin still have considerable potential if appropriate technologies are applied and a stable regulatory framework is guaranteed.
A scenario of renewed competition
The fact that several companies are competing in these areas could also mark a new stage of competition in the conventional segment. While players like CGC and Crown Point seek to consolidate their presence, the entry of new operators could boost investment and activity in the area.
In short, the energy landscape of Santa Cruz is shifting and offers an opportunity for conventional oil to once again play a key role in the province's production matrix.