Santa Cruz Sur is a collection of 5 production concessions located in the onshore Austral Basin, southern Argentina.
Echo has an existing oil and gas business in the Santa Cruz Sur Basin in Argentina. The business is operated by Interoil Exploration and Production ASA and Echo has a 5% working interest in the producing fields.
The Operator is in the process of applying for a 10 year extension to the concession, which expires in 2026 and the expectation is that this will be granted.
Overview
Area: 2693 km2
Status: Production Concessions
Licence Expiry:
- Chorrillos & Campo Bremen (April 2026)
- Oceano, Moy Aike & Palermo Aike (August 2026)
Net Production: c. 80 BOEPD net to Echo's 5% interest (September 2023)
Interest:
- Echo Energy: 5%
Net Reserves (Gaffney, Cline & Associates - 31 December 2018)
- 1P: 4.3 MMBOE
- 2P: 13.7 MMBOE
Permit Areas
Petroleum Geology
Oil and gas production across all 12 fields comes from a combination of Upper Jurassic and Lower Cretaceous conventional reservoirs.
Lower Cretaceous Palermo Aike shales are the main source rock in the basin and also provide the seal for the underlying reservoir rocks.
Local Infrastructure
Natural gas produced from the Chorrillos, Campo Bremen and Oceano blocks is processed through existing infrastructure and connected into the major San Martin trunkline connecting the Austral Basin to the rest of Argentina.
Oil is transported via truck to Punta Loyola where it is exported by cargo ship.
Reserves Potential
Following a Gaffney Cline & Associates assessment in December 2018, net reserves are estimated at:
- 1P Reserves: 4.3 MMboe
- 2P Reserves: 13.7 MMboe
Additional near field exploration potential has been identified including the Campo Limite exploration well in Palermo Aike which the partnership will work into the operational work programme.