Natural Gas Exploration in Argentina is Boosted

Pan American Energy, an oil and natural gas exploration and production company with activities in Argentina, Bolivia and Chile, announced its intention to spend USD 3.4 billion on natural gas exploration and output in Argentina from 2013-2017. According to an Associated Press statement, Argentina is trying to combat an energy deficit that has forced it to import billions of dollars’ worth of fuels each year.

The company says the agreement is similar to one recently reached between the government and YPF (Yacimientos Petrolíferos Fiscales), which is Argentina’s state-run energy company.

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