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Argentina closed the best January in 16 years thanks to Vaca Muerta

Argentina closed the best January in 16 years thanks to Vaca Muerta

According to the records, Extractions in the first month of 2007 were about 633,686 barrels of crude per day, about 7,128 additional barrels compared to what was seen in January 2023.

In year-on-year terms, January production meant a marked jump of almost 10%. While, compared to the extractions of December, which were 622,420 barrels per day, an increase of almost 1% was registered.

For the month of January, the province of Neuquén reported that the production of Total oil reached 315,340 barrels per day. A level that meant a new historical record for the leading province of shale developments, for the second consecutive month.

As reported by the Ministry of Energy and Natural Resources of Neuquén, 91.17% of those barrels were unconventional, of which almost all were from Vaca Muerta. That percentage is equivalent to about 287,495 barrels of crude oil per day.

Official data fourth quarter 2022

– During the fourth quarter of 2022oil production reached 8,914 Mm3, presenting an increase of 12.3% compared to the same period of the previous year.

– Oil production in the San Jorge Gulf Basin increased 0.9% year-on-year, while the Neuquén Basin increased 22%.

– Natural gas production reached 129.2 MMm3/day, 1% above the fourth quarter of 2021.

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Source: Ambito

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