Argentina's state-run energy company YPF and Malaysia's Petronas agreed this week to invest US$ 2.3 billion in a shale oil project in Vaca Muerta, with a target of reaching 60,000 b/d of oil equivalent by 2022. The investment will be in La Amarga Chica, where the companies have been testing the shale oil potential since 2015 and have spent US$ 550 million to date in the process, YPF said in a statement.Add your comment!
Argentina's energy company YPF said on Monday its 2018 hydrocarbon production likely will fall by 3% to 4% on the year, more than previously expected, as low natural gas demand forces it to close wells and shift its focus to Vaca Muerta shale oil.
Argentina has launched its first offshore bidding round in nearly three decades. The country's energy secretariat published details regarding bidding terms and conditions for public bidding for exploration licenses.
Argentina's state-controlled oil company, YPF, will significantly boost oil and gas production, investing between US$4 and US$ 5 billion per year through 2022, Chief Executive Daniel Gonzalez said. The plan is to raise production by between 5and 7% per year, with the largest increase in the Vaca Muerta formation, one of the world's largest reserves of shale oil and gas.
Argentina will seek 780 million US dollars to recover the Norpatagónico freight railroad to link the Vaca Muerta hydrocarbon facilities to the port of Bahía Blanca, in the province of Buenos Aires, through Neuquén, La Pampa and RioNegro, President Mauricio Macri's administration announced Wednesday.
The emir of Qatar, Sheikh Tamim Bin Hamad Al Thani, arrived Thursday evening in Argentina to meet with President Mauricio Macri on Friday to discuss oil investments in Vaca Muerta and other bilateral issues.
Argentina plans to launch a delayed offshore licensing round in October as it seeks to explore a large frontier region in the South Atlantic for potential oil and natural gas production growth in the future. This was announced to oil executives in Houston by Argentina's energy secretary Javier Iguacel.
Argentina's biggest natural gas transporter, Transportadora de Gas del Sur, and Texas-based Excelerate Energy, signed on Monday a memorandum of understanding to evaluate building the country's first liquefaction plant, as rising natural gas production fuels export prospects.
Argentina re-launched a one-year-old agreement between the government, companies and workers to drive competition and spur development in the Vaca Muerta shale play, the government said in a statement.
Argentina will begin exporting natural gas to Chile from October, the Argentine Energy Ministry said on Friday, following a meeting between the governments of both countries.