% | $
Quotes you view appear here for quick access.

Petrobras Argentina SA Message Board

  • computerfixuper computerfixuper Jan 18, 2013 11:35 AM Flag

    Petrobras Argentina denies oil spill allegations

    Petrobras Argentina denies oil spill allegations

    Petrobras Argentina yesterday published a press release denying accusations by Neuquén provincial government officials who had suggested the province could “cease” to hire the company’s services due to last Sunday’s oil spill in a Petrobras pipeline due to alleged under-investment.

    The Brazilian company explained in its statement that the oil spill in its production line “Puesto Hernández” was caused by “a flood,” due to the heavy rainfall affecting the northwest area of Neuquén.

    “In the early hours of last Sunday a flood destroyed some of the protection barriers, subsequently breaking one of the pipelines which was buried 1.5 metres deep,” provoking a spill of 64.7 cubic metres of oil and industrial use water, read the statement.

    The damaged pipeline was used to drain the production of three wells in the oilfield Puesto Hernández and the company said that “it complies with the environmental laws and with the prevention and safety requirements,” adding that “all projected investments in the province of Neuquén were made.”

    According to the company the “situation is under control, the cleaning works on the affected area are in their final stages and the oil-well is in full operation again, except for the affected sector.”

    The affected well represents 9.5 percent of total Petrobras production in the country. Petrobras Argentina operates the oil-well with a 38.4 percent share while the majority partner is YPF with 61.5 percent.

    Meanwhile, head offices in Sao Paulo decided as “preventive measures” to suspend the water supply for irrigation and the use of drinking water for the district of Catriel in Neuquén province and 25 de Mayo in the province of La Pampa.

7.040.00(0.00%)10:17 AMEDT