...Massive crude oil deposit found in Argentina
Posted 11 hours 32 minutes ago
A joint Argentina-British Pan American Energy company has discovered a crude oil field in the southern province of Chubut, yielding an estimated 120 million barrels per year, local authorities said.
"It's the biggest oil deposit [found in Argentina] in decades," Chubut Governor Mario das Neves told reporters in provincial capital Rawson, 1,450 kilometres south of Buenos Aires.
He said the oil field was located in Chubu's central Escalante region, which years ago was uneventfully explored by US oil giant Amoco.
Pan America Energy, formed by Argentina's Bridas and Britain's British Petroleum, is Argentina's second-biggest crude oil producer....
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