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By Rystad Energy – Nov 30, 2024, 6:00 PM CST
- Argentina's Vaca Muerta shale accomplished a 400,000 bpd production record in Q3 2024.
- Rystad: Vaca Muerta production is on track to strike 1 million bpd by 2030.
- To sustain this development, Argentina is investing greatly in energy facilities to resolve traffic jams.
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Argentina's Vaca Muerta shale play reached a brand-new oil production record of 400,000 barrels each day (bpd) in the 3rd quarter and is on track to strike 1 million bpd by 2030, according to Rystad Energy's most current analysis. The 35% year-on-year rise in third-quarter production was driven by enhanced efficiency and broadened takeaway capability, led by flagship operator Yacimientos Petrolíferos Fiscales (YPF) and reinforced by regional independent manufacturers.
YPF, which represented almost 55% of Vaca Muerta's oil production last quarter, saw its income increase 7% quarter-on-quarter and 18% year-on-year to go beyond $5.3 billion. Independent manufacturer Vista Energy likewise played a substantial function, with its Bajada del Palo Oeste field contributing over 20% of the oil output development, followed by YPF-operated Bandurria Sur and Loma Campana-Loma La Lata fields.
This development is likewise shown in the increasing variety of horizontal wells placed on production, which balanced 40 wells each month in the 3rd quarter, up from 33 in the very first quarter and 34 in the 2nd. A record 46 brand-new wells were brought online in September alone, of which 39 remained in the oil zone and the rest in the gas zone, highlighting the continued functional effectiveness and momentum of Argentina's flagship shale play.
To sustain this development, Argentina is investing greatly in energy facilities to deal with traffic jams. The $2.5 billion Vaca Muerta Sur pipeline, established under the Large Investment Incentive Regime (RIGI), is a foundation of these efforts, intending to broaden takeaway capability and help with smoother oil transport from Vaca Muerta to international markets. In parallel, Argentina has actually substantially boosted its transport network, increasing domestic supply and export capacity. The growth of the Nestor Kirchner pipeline is developed to enhance gas motion effectiveness, supporting higher self-sufficiency and prospective future LNG exports.
“It can't be overemphasized how vital Vaca Muerta is to Argentina's energy self-reliance and efforts to minimize imports. Together with state-owned gamers, independent manufacturers have a growing impact in the play, contributing 35% of oil production and 23% of gas production. There is every factor to see Vaca Muerta as a main pillar of Argentina's long-lasting energy method and financial strength, with a genuine possibility of reaching the 1 million bpd mark by 2030,” states Radhika Bansal, Vice President, Upstream Research, Rystad Energy
These production gains line up with the wider narrative shaping Argentina's energy sector,
