By: Franyi Sarmiento, Ph.D., Inspenet, September 15, 2022
The shale oil and gas reserve, Vaca Muerta, in Argentina, could become the world’s fifth largest gas producer, according to an analysis by the Universidad Austral, in the webinar “Vaca Muerta, Lithium and Hydrogen. Challenges and opportunities in Argentina”, organized by the Faculty of Engineering of the Austral University (UA).
In his speech, the co-director of the Institute of Energy and professor of the Specialization in Oil and Gas Management, Luciano Codeseira, explained about the development of Vaca Muerta.
According to Codeseira, “it is a project that will be sustained over time. There are no signs that there will be a drop in the demand for gas and oil, at least in the next decades. This is a very important condition for Vaca Muerta”.
“We have resources, we have productivity, we have external markets, we have high prices and it is with question marks if we have the infrastructure to evacuate that production. With all this we would be in a position to export and generate a very important foreign exchange pole”.
“Vaca Muerta is the opportunity. The potential in terms of oil is based on a volumetric calculation that has to do with the characteristics of the rock: a level of 35 billion barrels of oil,” said the UA professor. And he added that: “If we take into account what has been developed in the oil window, we are more or less at 1.5%.”
Along the same lines, Codeseira stressed that Vaca Muerta could produce around one million barrels per day, almost double all Argentine production, and that if there were the necessary infrastructure and investments, it would be in a position to reach 4 million barrels per day. . “We would become the fifth largest producer in the world,” he said.
As for gas, Vaca Muerta allows the export of “100 million m 3 per day. We have a capacity that can reach 488 million m 3 per day. Thus we would become the fourth, fifth producer in the world. The geological conditions are there”, he assured.
This material from the mase.lmneuquen.com portal was edited for clarity, style, and length.
Photo: ShutterStock
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