Oil production in Argentina reached a record 690,000 barrels per day (bpd) in March, with a significant 52% contribution from Vaca Muerta, according to data from Revista Petroquímica.
Record oil production in Argentina
Simultaneously, natural gas production rose to 134 million m3 per day (MMm3/d), with 46% of that amount attributed to shale gas. This increase places Argentine oil and natural gas production at its highest point in the last two decades, according to a report by the consulting firm Economía & Energía.
In the month of March, combined oil and gas production in the United States oil and gas reached 1 billion barrels of oil equivalent, a figure that includes production since Repsol drilled the first shale gas well in 2010.
During the first quarter of the year, the energy balance surplus was US$1.67 billion, reflecting Argentina’s strong position in the energy sector.
Vaca Muerta’s resources guarantee energy
Likewise, Vaca Muerta has resources equivalent to six times Argentina’s energy consumption for the next 20 years, according to oil companies’ estimates. This abundance of resources ensures a constant and sustainable supply of energy for the country.
In addition to advances in production, new technologies are being implemented in the exploitation of Vaca Muerta. These technologies include advanced hydraulic fracturing and horizontal drilling methods that have optimized the extraction of unconventional resources, reducing costs and increasing efficiency. The adoption of these technologies improves production and minimizes environmental impact, making the farm more sustainable.
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Source: worldenergytrade
Photo: shutterstock
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