Russian energy major Gazprom has signed a confidentiality agreement with Argentine energy company Pampa Energía to explore investments in Vaca Muerta.
The deal was…
READ MOREOil reserves2.5 billion barrels
Oil production627,000 bopd
Gas reserves400 bcm
Gas production38.6 bcm
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.
Uruguay has signed contracts for four offshore oil and gas blocks in the Pelotas basin to begin exploration activity, Upstream…
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 MOREEnergía Argentina has launched a tender for the construction of the Presidente Néstor Kirchner gas pipeline to deliver growing production from the Vaca Muerta…
READ MOREAs Brazil goes through its worst drought in a century, the Paraná River, crucial for the economy and power generation of Argentina, is at a record low level,…
READ MOREExcelerate Energy’s Exemplar FSRU has started operations at the Ingeniero White port in Bahía Blanca, Argentina, to help cover the winter peak of natural gas demand…
READ MORERussian energy major Gazprom has signed a confidentiality agreement with Argentine energy company Pampa Energía to explore investments in Vaca Muerta.
The deal was…
READ MOREArgentine President Alberto Fernández on Monday inaugurated a new USD 8-million propellant plant in Raízen’s refinery in Dock Sud, Buenos Aires Province.
This…
READ MOREAfter a rough 2020 with a drop of 50% in frac stages in Argentina’s Vaca Muerta formation, companies operating in the prolific shale basin conducted 685 frac stages…
READ MOREArgentina’s government has successfully granted 18 of 38 blocks offered in the country’s first ever offshore bid round, international media report on Tuesday.…
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