Pan American Energy Group CEO, Marco Bulgheronion Thursday asked for “a coherent development scheme” to be able to invest, participating in the fourth round of talks Democracy and development who organizes Clarione.
“For us, investment is the basis on which to look to the future. We need to have a coherent development schemelogically, a state policy that allows companies to glimpse development over time “, underlined Bulgheroni participating in the first table of the event, entitled “The role and challenges of integrated companies”.
The CEO of the Pan American Energy Group, whose company is one that integrates the entire industry of oil and gas production, from wells to pumps, said: “We are convinced that investment is the cornerstone for increasing production and export. It is an investment that I would define as sustained “.
Regarding the length of time it takes recover the original investmenthe explained: “Any investment we make, the repayment will come in the next 15 years. We are not thinking of a government or two, but three or four for the repayment period. “
Bulgheroni explained that, in the last three years, the company has invested “on average $ 1,150 million annually” and he underlined: “1,000 were destined for production and production infrastructures, 75 were destined for investments in refining and storage, while another 75 in the generation and transmission of energy”.
“We see very interesting investment opportunities for the country in the traditional sectors, the Oil & Gas part, as well as in the opportunities that arise as a result of the energy transition. The players who are in Argentina have changed a bit but we are pretty much the same in the last 20 or 30 years, that’s why they have to take care of us“, he has declared.
Furthermore, he stated that “the energy market is global“and argued:” I don’t necessarily compete against YPF, Shell or any other national player. I compete against everyone in the world, therefore projects are analyzed globally on a project board. We need to have a globally competitive regulatory framework and prices similar to market prices. “
“I understand the restrictions and macro fluctuations in Argentina, but prices have to tend towards the market for these projects to be globally competitive”, said the CEO of Pan American Energy Group, who stressed that “the internal market is not enough”, then they also make investments outside the country.
And he added: “Part of these investments we have to make abroad and that’s why we need them access to exchangeswhich is today greater limit to the possibility of developing the maximum investment potential. We have had problems with imports of capital goods and other products. We are no strangers to the problems that exist and we want to be part of the solution “.
Finally, he said he was “committed to the energy transition” towards renewable energy. “We want to be part of the transition, we don’t want to be victims, we want to be protagonists“, he stressed.
“Today we do not know what the energy market will be for the next 30 years, which will be the predominant energy such as hydrocarbons. We will continue to invest in oil and gas for a long time, but they are also investing in these new technologies and opportunities that the energy transition offers us “, he concluded.
Source: Clarin
