Oil, gas output rises in argentinas vaca muerta shale. Business strategy for upstream oil and gas producers and service companies. The 20 world shale gas and shale oil resource assessment, produced by eia and advanced resources international ari, noted large shale deposits in china and argentina. Argentina holds the worlds secondlargest shale gas reserves. Mar 27, 2018 argentina, which holds the largest estimated shale gas reserves and second largest tight oil reserves in the western hemisphere, is the only latin american country currently producing commercial. Governance of the natural gas sector in argentina is at an incipient stage.
Argentina, which holds the largest estimated shale gas reserves and second largest tight oil reserves in the western hemisphere, is the only latin american country currently producing commercial. Roughly onethird of natural gas consumed in argentina is used to generate electricity, while industry and the residential sector each account for close to 20 percent of argentinas natural gas demand. Iapg has 7 branches in the main basins within the country. The drop in oil prices in the end of 2014 relieved consumers in the country, but presented budgetary and investment challenges. Oil and gas revenues in the state budget have diminished significantly.
Argentina clearly has a worldclass shale gas resource and its crown jewel is the vaca muerta play. Supporters of an oil nationalization bill proposed by argentinas president cristina fernandez hold up flags that read. Argentina relies heavily on natural gas and oil, which comprise 51% and 35% of the primary energy mix respectively. Argentina natural gas production is at a current level of 39. The forum for shale gas and tight oil production for argentinian shale plays. Argentina ready to fire up natural gas opportunity years in. The oil and gas sector developed under a centralized management structure in which a. The largest argentinean shale gas play is the neuquen basin, which is located on the eastern side of the andes in argentina 1 and central chile and covers an area of over 120,000km. The largestgas producing basins include neuquen, austral, and noroeste. Natural gas in argentina inn investing news network. Proyeccion 2010 shale gas convencional, tight y cbm importaciones gnl proyeccion 2010 proyeccion 2007 2008 2010 2014 2000 2007 2010 2014. Argentina ready to fire up natural gas opportunity years. The country has an unusually high reliance on oil and natural gas, which combined constitute nearly 90% of. Click here to purchase online list of tablescharts.
Eiaari world shale gas and shale oil resource assessment 6 shale gas resources of neuquen basin, argentina one example of 7 shale formations assessed worldwide. For the last two years, china has drilled more than 200 wells, and argentina has drilled more than 275 wells. Petroleum massbalance of the neuquen basin, argentina. This paper by ieda gomes and roberto brandt provides. Argentinas gas and oil fields are risky but lucrative for big oil.
Geochemistry of shale gas basins including norms and. Reimagining argentina 6 shale in argentina unconventional resources and the gdp 10 shale in argentina impact on argentinas industry sectors 12 shale in argentina higher domestic oil and gas production 18 argentina shale enablers 24 argentina oilfield services sector 30 conclusions 36. Natural gas in argentina investing news network december 4th, 2012 with natural gas trading at a significant discount to crude, investors are seeking companies looking. The eia report april 2011, world shale gas resources estimated argentina as having the third largest. Shale gas shale oil gboe gboe poland 25 3,3 france 23 4,7 romania 9 0,3 denmark 5 0 uk 4 0,7 netherlands 4 2,9 others 9 1 total 80 12,9 country. But i have not been able to find out how plentiful or scarce gas stations are in the area.
Traditionally one of the most prominent oil and natural gas markets in south america, argentina is increasingly turning towards alternative forms of energy, with the government exploring shale gas. Jan 19, 2015 oil production in the argentine province of neuquen rose 6. Argentina plans to issue a decree setting a higher local oil barrel price to protect the domestic industry from being further decimated by a collapse in global prices and slumping fuel demand due to the coronavirus pandemic, two industry sources told. Natural gas is also used in the transportation sector, as roughly 1. Argentina plans to fix local oil prices higher news. Since 2008, argentina has been a net importer of hydrocarbons, mainly natural gas, which represents more than half of the countrys energy matrix.
World shale gas argentina pluspetrol unconventional projects 1 august 2014 javier iguacel vp business development. Halliburton s baroid fluid services has designed its high performance waterbased drilling fluids to meet four basic criteria. Shale in argentina higher domestic oil and gas production. The road to a sustainable and profitable, full development is a lot clearer than it was only 2 years ago thanks to the collective efforts of all the key stakeholders.
Argentinas shale oil and gas formations in the neuquen basin show promise, but investors must remember that these plays are in the early stages of appraisal and development. Oil, gas output rises in argentinas vaca muerta shale field. Together, these three basins account for roughly 85% of the countrys natural gas production. Drawing on a storied heritage of invention, bh harnesses the passion and experience of its people to enhance productivity across the oil and gas value chain. Argentina clearly has a worldclass shale gas resource and its crown jewel is the. Technically recoverable shale oil and shale gas resources eia. Technical institute specialized in the oil and gas industry. Since 2008, argentina has been a net importer of hydrocarbons, mainly natural gas, which represents more than half of. Exploration and drilling is already underway in these countries. Argentina seeking increased natural gas production from shale.
The oil and gas sector developed under a centralized management structure in which a relatively insulated government. Unconventional shale oil and gas reserves have already attracted investors interest. Argentinas ypf has found large shale gas deposits which could turn the country into an exporter of oil and natural gas, however it needs foreign oil companies to develop the resources, and. The current 18,800 mw of installed power in thermal power stations must double, adding another 18,600 mw. In this case, tax is levied in the form of a final withholding tax, at various rates depending on the type of income concerned. It is the opportunity for global expansion that will attract foreign capital. Unconventional gas in argentina oxford institute for energy.
After the recession triggered by the economic crisis and ending in 2002, argentinas energy demands grew quickly as industry recovered, but extraction and transportation of natural gas, a cheap and relatively abundant fossil fuel, did not match the surge. Once one of the largest natural gas exporters in south america, argentina was a net importer of natural gas by 2008. After the recession triggered by the economic crisis and ending in 2002, argentina s energy demands grew quickly as industry recovered, but extraction and transportation of natural gas, a cheap and relatively abundant fossil fuel, did not match the surge. Argentina plans to issue a decree setting a higher local oil barrel price to protect the domestic industry from being further decimated by a collapse in global prices and slumping fuel demand due to the coronavirus pandemic, two industry. The oil and gas sector developed under a centralized management. Baker hughes godoy cruz, mendoza province, argentina. Argentina had proved natural gas reserves of approximately 11. Such assets specifically shale gas, tight gas, shale oil and tight oil. Argentina has 18,598 miles of natural gas pipelines. Ypfchevron loma campana concession, patagonia, argentina. Transitioning from a regulated to free market will always be tough, as it is a. Despite argentinas potential reserves, the extent of argentine shale gas production will not be realized for at least five years. Despite argentina s potential reserves, the extent of argentine shale gas production will not be realized for at least five years. Oil production in the argentine province of neuquen rose 6.
The oil and gas sector in argentina is moving in the right direction, with the liberalisation of the domestic market. Baker hughes company is the worlds first and only fullstream provider of integrated oilfield products, services and digital solutions. Oil and gas taxation in argentina deloitte taxation and. Growth in argentinas vaca muerta shale and tight gas. Argentina oil and gas market market overview, size.
Argentina seeking increased natural gas production from. How such a resource might be developed and linked to global gas trade flows in terms, for example, of reducing argentinas lng import requirements is a complex multivector issue. Pdf governance of the natural gas sector in argentina is at an incipient stage. Other countries, such as argentina and china, may be willing to take on greater environmental risks to advance shale gas production in order to become more self. Pages in category natural gas in argentina the following 2 pages are in this category, out of 2 total.
Mar 27, 2012 argentina already has two import terminals, which could be expanded to include export capabilities with time, planning and money. Argentina s domestic natural gas production has been rising steadily in the past three years, largely because of increasing production from the neuquen basins vaca muerta shale and tight gas play. Argentinas gas and oil fields are risky but lucrative for. The argentina oil and gas market outlook to 2021 provides and insight into the market size, growth, share, trends, analysis, government policies and regulations, competitive landscape, market dynamics, key domestic and foreign players, and market opportunities etc. Pdf the governance of shale gas in argentina researchgate. In 2015, natural gas production increased for the first time since 2006, as ongoing efforts to increase production from key shale gas areas in argentina aimed to reduce its imports of natural gas. Mar 01, 2017 a plan to end natural gas imports by 2022. Argentina doubles down on shale gas and renewables. Argentina and china lead shale development outside north.
Significant progress over the past two years has put the argentina vaca muerta shale play firmly on the map as the unconventional play outside north america. Reimagining argentina 6 shale in argentina unconventional resources and the gdp 10 shale in argentina impact on argentinas industry sectors 12 shale in argentina higher domestic oil and gas production 18 argentina shale enablers 24 argentina oilfield services sector. Geochemistry of shale gas basins including norms and trace elements jeanphilippe jp nicot bureau of economic geology jackson school of geosciences the university of texas at austin ground water protection council uic conference houston, tx january 23, 2012. Natural gas in argentina investing news network december 4th, 2012 with natural gas trading at a significant discount to crude, investors are seeking companies looking for the next big gas play. Challenges and longterm opportunities in the neuquen basin. The argentine energy crisis was a natural gas supply shortage experienced by argentina in 2004. Argentina energy data, statistics and analysis oil, gas.
726 359 1012 1147 558 590 1143 561 180 913 1088 464 671 655 218 1044 1270 639 784 735 20 1537 249 1081 690 883 865 1541 236 565 743 380 691 741 1120 343 483 1159 525 371