“A few years ago Vaca Muerta was only for believers. Today it is a reality. But we need to create a macroeconomic and political energy framework that allows us to fully develop our resources,” he said. Galuccio to Bloomberg TV. “For that, I would focus on two things: ease of currency controls and restrictions, and clearer domestic crude prices.”
The executive ratified the present of Dead cow and stated that “40% of the country’s oil and gas come from Dead cow. We export 100,000 barrels of oil per day of formation. And our model predicts that probably in the next 3/4 years we will be exporting 500,000 barrels/day from Argentina. This will position the country as a relevant player in the export market”.
About the Vista results, Galuccio stated: “In 2022 we increased reserves by 39%, production by 32%, we doubled EBITDA, which reached US$760 million and, what is more important, the share price tripled in 2022. We have been invested in the Argentina US$2,000 million. In addition, he shared his view of the global energy context: “The world’s energy demand projections indicate that it will grow by 75% by the year 2050. Oil and gas will form part of the history of energy evolution and will also be necessary in the coming decades. I think the oil Dead cow It will give Argentina the possibility of participating in the energy security game at a low cost, because energy has to be accessible and it must also be produced with a very low carbon footprint”.
Looking ahead to this year’s presidential elections, Galuccio He stressed that “nobody questions the importance of Vaca Muerta for the country. Neither the different political parties, nor the different candidates.
Vista’s plan for 2023 includes an investment of 600 million dollars, and a cost reduction of 27%. The increase in total production is projected at 13%, while it will seek to reduce greenhouse gas emissions by 47%.
Source: Ambito
