Argentinian oil company YPF and the US’ American Energy Partners will invest a shared USD 500 million in several projects in Argentina, according to a deal the…
READ MOREArgentina's Energy Industry
in figures
Oil reserves2.5 billion barrels
Oil production627,000 bopd
Gas reserves400 bcm
Gas production38.6 bcm
Argentina: Vast Unconventional Potential
Argentina’s energy industry remains a key sector for the country’s economic stability. The nation has the fourth-largest shale reserves in South America, which include the world’s second-largest shale gas formation, Vaca Muerta, located in Neuquén and Mendoza provinces. Natural gas production comprises up around 60% of the country’s supply of hydrocarbons. The hydrocarbons industry is overseen by the Ministry of Productive Development of Argentina, which updates policies and mandates on industrial matters.
The market is driven by majority-state-owned integrated energy company YPF, which has been involved in E&P operations since 1922. The NOC is the country’s largest oil and gas producer and owns more than half of Argentina’s refineries. International companies such as Chevron, Dow Argentina, Enap Eipetrol and Statoil have joined in the country’s upstream operations.
Argentina has traditionally had a surplus production of oil and gas, with exports bound mainly to its neighbour Chile although it remains a new importer of hydrocarbons. The nation is actively seeking investment to unlock its gas potential as demand rises while facing challenges related to high production costs and conflicts with labour unions. The country issued several revamps of policy to incentivise FDI under its Plan Gas initiative, with the aim of upping gas production as it transitions to lowering carbon dioxide emissions and adding renewables to its energy mix. Its total energy mix is dominated by oil and gas with bioenergy, nuclear and hydropower contributing less than 20% of its total primary energy use according to the IEA.
Mining player Rio Tinto is planning an investment of USD 350 million at the Rincon lithium project in Argentina.
READ MOREUS major Chevron has partnered with Challenger Energy Group to develop promising acreage offshore Uruguay, Challenger announced…
READ MOREIndian state-owned mining entity Khanij Bidesh India has signed a USD 24-million lithium exploration pact for five licences in Argentina, Reuters reported on…
READ MOREAbdulmuin Alyousef, CEO of Completion Energy, talks to The Energy Year about the company’s strategy to export technologies developed locally and its success in…
READ MOREIndia has opened the first tranche of its new minerals auction with 20 concessions on offer, the government announced on Wednesday.
The 20 blocks cover eight…
READ MOREChevron has planned spending of more than USD 500 million to develop the Trapial block on Argentina’s Vaca Muerte basin, Argentina’s Ministry of Economy announced…
READ MOREA significant oil discovery in the Faulkland Islands in South America was confirmed by oil exploration companies Rockhopper Exploration and Falkland Oil and Gas…
READ MOREArgentine state-run oil company YPF and US company Dow Chemical’s local unit will invest $500 million in shale gas exploration in the South American country in 2016,…
READ MOREMiguel Salazar, assurance partner of PwC Colombia, discusses the potential pitfalls the country faces in the wake of an economic crisis, and explains how companies can…
READ MOREIn response to low oil prices and forecasts that make a swift price recovery very unlikely, Southern Cross Energy is concentrating on investment projects in Colombia,…
READ MOREArgentine energy company Compañia General de Combustibles (CGC) announced a discovery of a gas play in the Austral Basin in the southern province of Santa Cruz.…
READ MORERussian energy corporation Gazprom and Argentina’s state-run oil and gas company Treasury Petroleum Fields (YPF) signed an agreement on Friday to develop the South…
READ MOREPan American Energy has secured a $520-million loan from the International Finance Corporation (IFC), a member of the World Bank Group, for drilling activity in…
READ MOREYPF, Argentina’s national oil company, in a joint venture with upstream operator Pan American Energy and German hydrocarbons producer Wintershall, announced plans to…
READ MOREFollowing a court ruling in Argentina on Saturday, the country’s foreign minister has confirmed that his government will seize foreign oil assets in the Falkland…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
- Do you have a question for The Energy Year about oil and gas?
- If we know, we’ll tell you.
- If not, we’ll ask the experts in the field.