Argentinian engineering company BLC Argentina plans to start
manufacturing pump jacks domestically to meet rising demand as producers step
up development of the country's large shale resources.
Carlos Cerruti, president of the Rosario, Santa Fe-based company,
announced the plan late Thursday in a meeting with Industry Minister Debora
Giorgi.
He said the company plans to build a plant for manufacturing the pump
jacks, which are used to lift oil and liquids out of wells when natural well
pressure declines. The plant will be built in Rosario, he said.
Argentina has among the world's largest shale resources and YPF, the
state-run energy company, is starting to put them into production. This is
boosting demand for rigs and other equipment and related services, much of
which are imported.
The government, however, is taking steps with incentives to build up the
domestic industry to meet some of this demand, hoping to create jobs, boost
local industry and limit imports.
--Charles Newbery, newsdesk@platts.com
--Edited by Jason Lindquist, jason.lindquist@platts.com