In January this year, the Federal Court of Appeals in Mar del Plata dismissed a lawsuit brought forward by several environmentalist organizations and the mayor of the coastal resort city against an offshore oil and gas exploration project.
a lawsuit brought forward by several environmentalist organizations and the mayor of the coastal resort city against an offshore oil and gas exploration project.
"We celebrate this great news for the country. It is estimated that this offshore project could reach a production volume of 200,000 barrels per day, 35% of Argentina's current production. Undoubtedly, a before and after for the development and growth of our country," the Argentine energy minister, Flavia Royon, following the court of appeals' ruling in favor of the Mar del Plata project.
The Fenix project should help reverse a decline in Argentine natural gas production, along with expected production boosts in the Vaca Muerta.
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