In this way, Galuccio told Guzmán that Vista has increased production by almost 60% since its creation four years ago, tripling its reserves and thus becoming the second largest shale oil producer in Vaca Muerta. In addition, the company’s share grew during the last twelve months 233%.
For its part, in relation to 2019 -before the pandemic-, it increased the volumes of oil sold in the local market by approximately 20%.
Recently, Vista invested US$140 million in the acquisition of the Aguada Federal and Bandurria Norte blocks from the oil companies ConocoPhillips and Wintershall DEA, adding 50 thousand acres to its portfolio.
In addition, it plans to complete and put into production four wells in the Aguada Federal block, and by 2022, in Bajada del Palo Oeste -the block with which the company landed in Vaca Muerta- drill and put into production 16 new wells.
Galuccio’s company intends to become a net zero company by 2026, by combining a 35% reduction in absolute GHG emissions from operations and the implementation of its own nature-based solutions program (natural based solution).
Likewise, the head of Economy and Galuccio reviewed the possibilities of accelerating energy development in Argentina, which is “transformational” in the country’s productive structure. In this sense, during the meeting, both agreed on the fundamental importance of supplying the domestic market.
This meeting gives continuity to the energy agenda that Minister Guzmán is developing, after his participation in the city of Houston in the Argentina Oil & Gas exhibition of the Argentine Institute of Petroleum and Gas (IAPG); and at the ministerial meeting of the International Agency for Energyto which Argentina joined as an associate member last week, after the minister’s visit to Paris.
Source: Ambito
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