“A month ago, we announced the detection of gas in the area during drilling. Now, we brought it to the surface,” Kinn said.
Although Kinn said the quantity of gas at El Palmar had not yet been determined because the partners were still in the “full evaluation process,” he noted it was an old field that “has new areas that were not previously put into production.”
The company’s plan “initially” is to export the gas from El Palmar to Argentina, but “in about three or four years (Jindal wants to) ensure (the supply) of gas for industry at El Mutun,” Kinn said.
Jindal Steel & Power promised to invest $2.1 billion in the El Mutun project over 40 years.
