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Workers in YPF uniforms inspect a large pipe at a construction site, with machinery and an Argentine flag in the background.
YPF leads gas and oil production in Argentina thanks to Vaca Muerta | Camara La Derecha Diario
ARGENTINA

Ypf Leads Gas and Oil Production in Argentina Thanks to Vaca Muerta

This growth brought an increase in investments. The projections for the coming years.


by

Editorial Team

Argentina achieved a record in gas and oil production in 2024, driven mainly by the development of Vaca Muerta.

This growth brought with it an increase in investments, job creation, reduction in subsidy spending, and a net income of dollars from the energy balance unprecedented since 2006.

YPF and Leadership in Hydrocarbon Production

YPF leads this development as the main local producer of gas and oil, in both conventional and unconventional segments.

According to the report by the consultancy Economía & Energía, the company leads projects seeking to integrate into the Regime of Incentive for Large Investments (RIGI) with the aim of reaching exports of up to USD 30 billion annually by 2030.

Two workers with white helmets observe a drilling tower in an oil field under a clear sky.
Vaca Muerta | La Derecha Diario

Natural Gas Production in 2024

In 2024, the total natural gas production in Argentina reached 139 MMm3/day, reflecting a 5.1% year-on-year growth. Shale gas accounted for 45% of the total production, while conventional gas fell by 9.1%, standing at 16.1 MMm3/day.

Main shale gas producers in 2024:

  • YPF: 21.2 MMm3/day (31% of the total, +17% year-on-year).
  • Tecpetrol: 15.8 MMm3/day (23% of the total, +5%).
  • TotalEnergies: 9.3 MMm3/day (13% of the total, +104%).
  • Pluspetrol: 7.7 MMm3/day (11% of the total, +106%).
  • PAE: 5.3 MMm3/day (8% of the total, +41%).
  • Pampa Energía: 2.9 MMm3/day (4%, slight decline).
  • ExxonMobil: 2.3 MMm3/day (3%, +7%).
  • Harbour Energy: 1.8 MMm3/day (2%, -27%).
  • Chevron: 1.0 MMm3/day (1%, +44%).
  • Vista: 1.0 MMm3/day (1%, +17%).

Growth in Oil Production

The total oil production in Argentina in 2024 reached 352 kbbl/day, with a 19% year-on-year growth. Within this segment, shale oil accounted for 41% of the total production, consolidating itself as the fastest-growing segment.

Main shale oil producers in 2024:

  • YPF: 123 kbbl/day (35% of the total, +21% year-on-year).
  • Vista: 61 kbbl/day (17% of the total, +41%).
  • Chevron: 47 kbbl/day (13% of the total, +18%).
  • Shell: 33 kbbl/day (9% of the total, +16%).
  • Pluspetrol: 16 kbbl/day (5% of the total, +95%).
  • PAE: 22 kbbl/day (6% of the total, +18%).

The Potential of Vaca Muerta

Two people with helmets watch an oil drilling tower under a clear sky.
Vaca Muerta | La Derecha Diario

Vaca Muerta is the second-largest unconventional gas reserve and the fourth-largest unconventional oil reserve in the world, positioning Argentina in a privileged place to leverage its resources in the context of the global energy transition.

According to YPF, the country could reach annual exports of up to USD 15 billion in liquefied natural gas (LNG) and USD 15 billion in oil by 2031, which would match the historical contribution of the agricultural sector in its best years. This growth could represent a structural solution to the recurring foreign exchange shortage affecting the Argentine economy.

Future Prospects

The development of key infrastructure, such as gas pipelines and liquefaction plants, will be essential to sustain this growth and consolidate Argentina as a strategic energy provider globally. With sustained investments and appropriate policies, the energy sector could become one of the main drivers of the country's economy in the coming years.

➡️ Argentina

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