Argentina oil and gas output falls

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Argentina's oil and gas production fell last year compared with the previous year, marking the third consecutive decline since 2006.

Argentina produced 36.15 million cubic metres of oil and 48.41 million cubic metres of gas, according to the latest data published by the Energy Secretariat.

That puts oil production down about 4.3% from a year ago and gas output down 3.7% on the year.

"Companies are overexploiting mature fields whose productivity is declining," former energy secretary Daniel Montamat said in a phone interview today. "This tendency has become more pronounced in recent years, not only for geological reasons but also because of political realities affecting the sector."

http://www.upstreamonline.com/live/article205425.ece