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Open for Business: Argentinean President Clears Way for Shale Drilling
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The Nation and the Provinces oil reached broad consensus to advance the reform of the Hydrocarbons Law and achieve self-sufficiency.
The text of the official statement on the meeting in Olivos is as follows:
The President of Argentina Cristina Fernandez de Kirchner and the governors of oil-producing provinces reached an unanimous agreement to advance a reform of the Hydrocarbons Law that would achieve energy self-sufficiency, import substitution, generating significant savings in foreign exchange and attract more investment to increase production and create more jobs.
The project aims to update the current Act and adapt to new opportunities that are presented to the country, such as the unconventional, the offshore and tertiary recovery.
The Executive Branch worked with governors and…
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