The extended contract covers 2 drilling rigs, 13 workover units and 13 pulling units on Pan American’s Cerro Dragon field in the Golfo San Jorge basin in southern Argentina.
This increase in the EIA’s forecast of crude oil production is largely based on their interpretation of the January 2022 OPEC+ meeting, when participants reaffirmed their decision to continue to increase output by 0.4 million bpd each month until all of the production cuts are reversed.