The Secretary of Energy announced this Friday that Argentina had a historic year in hydrocarbon productionupon reaching the highest level of oil production since 2003. As detailed, the country generated more than 256 million barrels in 2024, which represents 11% more than in 2023.
From the organization they highlighted: “With a clear stance in favor of the sector, Oil production is experiencing its biggest boom in two decades“.
The secretariat that leads Maria Tettamanti He highlighted that “these achievements are also driven by the regulations of the Energy chapter of the Base Law, through which prices are aligned with international values, the freedom to export hydrocarbons is guaranteed, and legal security is ensured for companies. promoting transparency and competition”.
“In this way, a highly regulated system is being left behind, with a strong state presence and disincentives for exports, and Argentina is being channeled on the path of freedom and prosperity“he concluded.
Big productive numbers for oil and gas
In this way, during 2024 Argentina’s hydrocarbon production reached values that had not been recorded for more than 15 years, since 256,268,454 barrels of oil were generatedthe highest production since 2003. For its part, gas reached 50,726,747 m3the highest production since 2006.
In that sense, they reported that the “data is linked to the opportunities offered by the sector in the country within the framework of the economic stabilization process.”
Oil production in 2024, on average, was 717.1 thousand barrels per daywhich means a growth of 11% year-on-year. In the last month of the year, 765.6 barrels per day were generated, 11.5% more than the previous month.
Regarding gas in December, production was 124.4 MMm3/daywhich meant an increase of 9% compared to December 2023.
These numbers reflect a growing development of non-conventional in the country. In that line, Vaca Muerta production represented 54.9% of all oil production and 50.1% of gas production nationwide. Pointing out on this issue, 446.9 thousand barrels of crude oil were produced per day in Vaca Muerta alone, which meant an interannual growth of 26.9%.
Source: Ambito
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