Argentina extends Oiltanking concession, approves US$72mn investment plan

Argentina’s federal energy department approved a 10-year extension of a concession held by oil terminal logistics company Oiltanking Ebytem, along with an associated US$72mn investment plan.

The extension will run from November 2027, when the original 35-year concession contract had been due to expire. 

The company – which operates at hydrocarbons logistics hub Puerto Rosales – has outlined where it plans to deploy the funds. Target projects include new tanks and a dock, the federal energy department said in a resolution. 

Oiltanking work will help support a forecast increase in oil exports, chiefly driven by growth in production at the Neuquén basin.

In 2022, officials extended by 10 years a concession held by oil pipeline operator Oldelval, which recently said it would increase the scope of a transport capacity project underway. Oldelval’s infrastructure links the basin with Puerto Rosales. Oldelval’s concession had also been due to expire in 2027.

The growth prospects of Argentina's oil export industry are linked, in part, to the expansion of midstream infrastructure between the basin and Puerto Rosales, which is currently under strain.