In Vaca Muerta, US$47 billion have sunk since 2013. In 2024 alone they will total US$11.5 billion, 75% more than last year. Estimates from private consultants indicate that although these investments served to exceed the 10% possible activity in Neuquén training, there is still a long way to go.
According to Aleph Energy, Projects in the national hydrocarbon sector require an average investment of US$22.5 billion per year until 2031, a figure that doubles the current average. For the next eight years, They assure that a dance in investments of US$181,000 million is needed. Can it be achieved?
Petronas, with one foot in and one foot out of the YPF LNG project
For infrastructure alone, the sector’s current large deficit, up to US$14,000 per year could be invested in oil and up to US$3,500 in gas, including LNG projectsbut not the on shore plant that Petronas is about to give up.
Petronas’ departure is not confirmed. The self-imposed deadline YPF so that they can decide if they stay or leave ARGLNG project It ran from November to the end of December. As far as he could know Energy Reportthe basic engineering work has not been completed, and without that information – key to defining investment amounts – Malaysians are not in a position to retire or stay.
Investment ranking in Vaca Muerta
In the week in which almost all the protagonists of Argentine oil and gas meet in Neuquenthe ranking of investments in Dead Cow since 2013.
- YPF US$26.4 billion
- PAE US$2.5 billion
- TotalEnergies US$2.4 billion
- Pluspetrol US$2.3 billion
- Shell Argentina US$2.18 billion
- Tecpetrol US$1,960 million
- Exxon US$1.6 billion
- View US$1,440 million
- Pampa Energía US$1,020 million
If there are any doubts about the “almost all”it can only be anticipated that neither Miguel Galuccioneither Marcos Bulgheroni are planning to visit the AOG Patagonia 2024. “They have other commitments,” they justified in their surroundings.
Juan Martin Bulgheronivice president of Upstream Operations and cousin of Marcos (he is the son of the late Carlos Bulgheroni), will speak at the Argentina-Texas Summit – Energy after Vice President Villarruel.
Vaca Muerta, the roadmap: 80 drilling rigs, 15,000 workers and 2 million barrels of oil
And the prospects are on the rise. Gustavo MedeleMinister of Energy of Neuquén, told Más Energía. “Today we have 35-36 drilling rigs, with that plateau we can reach just over 800,000 barrels of oil per day, without taking into account productivity improvements.”
But for the minister, not only dollars will be missing. “It is estimated that in the next three years some 15,000 new employees will be needed, between the growth in activity, productivity improvements and people who are retiring. If all that is put on the table, it is possible that the basin absorb 80 drill rigs and 20 to 25 C frac sets.With that, we can reach two million barrels of production,” he said.
The president of the IAPG, Ernesto López Anadón, will talk about this in his opening speech at the AOG Patagonia 2024 at Espacio Duam.
Who is the leader of fracking in Argentina
According to the estimates of Luciano FucelloNCS country manager, Hydraulic fracturing activity in Vaca Muerta is expected to increase by 35% in 2025, compared to the slight slowdown felt at the end of 2024.
Today, Fucello records show that companies are only 885 fracture stages away from exceeding all the activity in 2024. From January to September, 13,837 punctures were already recorded in the shale segment, while in 2023 14,722 fractures were carried out.
According to the Economy & Energy report, from January to August they were connected 277 wells in the unconventional formation. Expert Nicolás Arceo revealed that 208 wells were destined for oil and 72 were directed for gas. The registry continues to be close to 40 wells per monthwhich will allow us to greatly exceed last year’s number of 20 wells per month.
The big player in the sector continues to be YPFthe company responsible for 48% of the fracture stages in Vaca Muerta. From January to September it counted 6,597 punctures. It is followed, further away, by Vista and PAE.
Record energy export figures, imports fall
Argentina has already exported fuel and energy for US$6,407 million so far this yearwhich represents an increase of 25.5% compared to the same period in 2023. In terms of imports, in these eight months they totaled US$3,250 million, a drop of 47.5% year-on-year.
Furthermore, according to official data, Hydrocarbon production in August was the highest in the last 20 years. Last month, Argentina produced 719.3 thousand barrels of oil per day and 153 million m3 of gas per day. This means year-on-year growth of 14% and 6.3% respectively.
In the first eight months of 2024, Crude oil was the country’s third exported product. It currently represents 6.9% of Argentina’s total exports. It amounted to US$3,582 million, 54.6% more year-on-year.
These figures allowed Chirillo to announce before leaving that The energy sector registered a trade surplus of US$610 million in September, reaching US$3,709 million in the nine months of the year. This means that Argentina exports more fuel and energy than it imports, adding more foreign currency to the country.
Oil, from Neuquén to the world
The Undersecretary of Public Revenue of Neuquén, Juan Martin Insúasaid in an interview with AM550 that the current production level of the Nequina Basin reached 109.9 MMm3/d of gas and 430,000 barrels of crude oil. These numbers imply that in six years gas production grew by 57.8% and oil production by 258%.
This level allowed the province to obtain hydrocarbon royalties for 1 billion pesos in the first nine months of the year, an improvement in real terms of 18% in September, compared to that same period of the previous year. “Today 30% of oil production goes to the export market,” said Insúa. However, that number does not stop growing.
The latest official data from Neuquen They point out that in September the 446,890 barrels per day of production. Is Argentina going from a country with oil to an oil nation?
Source: Ambito
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