The Vaca Muerta training It is one of the largest unconventional oil and gas reserves in the world. The estimate that it could produce 1 million barrels per day in 2030 It is a projection that depends on several factors, and is subject to many variables, including investment in the industry, oil prices, available technology and government regulations.
Different industry players, reports and consultancies talk about this topic and there is more and more certainty that we are on the right path.
Here I detail some aspects to consider:
- Investments and financing: The exploitation of unconventional resources requires a significant investment in infrastructure and technology. The availability of financing and investment by oil companies can be affected by economic and political factors.
- Oil and gas prices: The profitability of production in Dead cow It is linked to oil and gas prices in international markets. Volatile prices can influence the decision to invest in the region.
- Technology and experience: The exploitation of unconventional resources requires advanced technologies and experience in drilling and hydraulic fracturing. The acquisition and application of these technologies can be challenging.
- Regulations and licenses: Government regulations and environmental permits are critical factors in the exploitation of Dead cow. Changes in regulation can have a significant impact on production.
According to data from the Secretary of Energythe country’s total oil production in July was 616.8 thousand barrels/day, presenting an increase of 6.5% more compared to the same month in 2022.
If we talk about exports, from January to July 2023, 118.7 thousand barrels/day were exported, a volume 24.4% higher than the same period in 2022. This is largely due to the fact that the production surpluses are directed to the export market with high and sustained Brent and WTI prices.
This possibility of recovering the export market is the driver to increase the capacity of the infrastructure; which is already materializing with the expansion of the Oldeval pipeline (which goes from Neuquén to Coronel Rosales in Bahía Blanca) and the launch again of the Trasandino oil pipeline (OTASA) reaching the Bio Bio refinery in Chile, restoring supply to the neighboring country after 17 years of inactivity (Carnicer Heredia Romano, 2023, p. 18, Reporte Energético vol. 33 Septiembre).
It adds to what was previously mentioned; the project that has 3 tenders presented for the construction of the Vaca Muerta Sur pipeline, which would involve the construction of a 600 km pipeline to Black river seeking to export across the Atlantic with the implementation of a new port in the San Matías Gulf which could export up to 370,000 barrels per day.
We must not forget the projects already being explored Palermo Aike in Santa Cruz and the offshore Mar del Plata; as well as secondary and tertiary recovery already underway, which give new possibilities of maximizing production to conventional wells with a historical presence in the south of our country.
According to the latest report of the International Energy Agency (EIA), a maximum peak in demand and decline in oil consumption in the world is expected for 2030; In contrast to a statement issued by the Organization of Petroleum Exporting Countries (OPEC) that does not share the decline but does share the increasekeeping in mind that each region of our planet goes through disparate and unique realities in the formation of its energy matrix.
In summary, Argentina has what, both in quantity and quality, added to the experience of the sector and the entire political arc that it sees in the energyfrom different positions, the beacon of light that can bring us closer to that million, generating a surplus in the entire trade and energy balance.
Graduate in Safety (IUPFA) and Specialist in Gas and Oil (AUSTRAL University).
Source: Ambito
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