MercoPress. South Atlantic News Agency

Argentine province of Neuquén produces highest amounts of oil in 17 years

The goals have been achieved with only 6% of Vaca Muerta “in the massive development stage,” said Governor Gutiérrez

Thanks to the increasing output from Vaca Muerta, the Argentine province of Neuquén Thursday announced it had extracted an average of 213,808 barrels per day (BPD) during September of 2021, which represented a 40.19% increase against last year's figures.

Although Vaca Muerta's momentum is strongly felt throughout the province, the output of natural gas had a slight drop and stood at 80.8 million cubic meters.

According to the national Energy Ministry, Neuquén's oil production in September was 7.6% above August data, for an overall 40.19% YoY growth, it was reported.

Thursday's report, which was based on data from affidavits turned in by operators, showed that so far this year Neuquén has added a daily production of 41,018 barrels, which is tantamount to twice the oil production of the entire province of Río Negro.

With Vaca Muerta's contribution, Neuquén is also distancing itself from Chubut, the province which has historically led the country's oil production, but which last month remained stable at 140,816 BPD. Vaca Muerta accounts for 70% of Neuquén's entire oil production, the report showed.

“These figures show us once again that we are on the right track, and it is particularly very important that it happens in 2021 because it shows that the coronavirus pandemic affected the whole world, but no company left Neuquén; on the contrary, we have received new investments in the province,” Governor Omar Gutiérrez pointed out.

Gutiérrez also said the province had forecast daily production of 235,000 BPD by the end of 2021, which has already been achieved with only 6% of Vaca Muerta “in the massive development stage.”