The first site at Rincon del Mangrullo is estimated to have potential initial production of 120,000 cubic metres (3.3 million cubic feet) of gas per day while the other site at Piedra Chenque could produce310,000 cubic metres Repsol said in a statement released in Madrid. Repsol has been present in Argentina since 1999, since its purchase of Yacimientos Petroliferos Fiscales(YPF) for 15 billion dollars in what was the largest privatisation by the 1989-1999 government of former president Carlos Menem. Last month, Repsol, the world's seventh-largest privately owned producer of hydrocarbons, said it had discovered gas deposits in southwestern Venezuela capable of producing a million cubic metres per day. PIN//AFP