Argentinian NOC YPF has agreed to form a joint venture with Malaysia’s Petronas to invest in a Vaca Muerta shale project, the country’s Ministry of Finance said in…
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 MOREPresident Energy has discovered oil in wells PFO 1001 and PFE 1001 in the Puesto Flores/Estancia Vieja Concession in Argentina, the company announced on…
READ MOREArgentina has relaunched natural gas exports to Chile after more than a decade, international media reported on Tuesday.
The country’s rising unconventional…
READ MOREYPF is planning to invest between USD 4 billion and USD 5 billion per year until 2022 in E&P in Argentina even as Total has paused a gas development, international…
READ MOREArgentina is planning to terminate its contract with a floating regasification terminal due to rising domestic shale output, international media reported on…
READ MOREArgentina on Tuesday put on offer 38 offshore blocks, most of them on its continental slope, international media reported.
“There is a lot of interest,” Javier…
READ MOREShell has completed the sale of its downstream assets in Argentina to Brazilian affiliate Raizen for USD 916 million, the super-major announced on Monday.
The deal,…
READ MOREArgentina’s bailout package of loans from the IMF has been increased by USD 7.1 billion to USD 57.1 billion, international media reported on Thursday.
“This is…
READ MOREArgentina will start up its first offshore E&P round in October and award licences the following February, energy secretary Javier Iguacel told audiences at a Houston…
READ MOREInvestors in Argentina have filed an arbitration claim against Brazil’s Petrobras for losses allegedly linked to the Operation Car Wash corruption probe, international…
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