2024-10-21 03:25:00
Oil production in Argentina would have improved 7.3% year-on-year in November”>Vaca Muerta is accelerating, even more so as transportation capacity expands. that’s why Neuquén Energy Minister Gustavo Medele predicts that Argentina “will break oil production records” next year.” dating back to 1998.
The historical mark of the traditional era is In April 1998, production was nearly 860,000 barrels per day. Nearly three decades after that date, the country’s production today is not far from that level, thanks to more than 400,000 barrels of oil per day provided by shale formations.
“We think a record break is possible because installation capacity has outpaced the decline.”Or in an unusual scenario, the number of barrels gained will exceed the number of barrels lost every year between now and 2027,” Medele said.
He added that given the 1998 record, forecasts suggested “When the Odelval expansion is completed, it will be surpassed “Repeated Plan” is expected to be carried out in the second quarter of next year.
“The capacity that we have right now, which is the rigs, the fracking rigs, the personnel, the suppliers, the routes, we have that capability,” Medlay said. By 2027, we should reach a plateau of 800,000 barrels per day in the Neuquén Basin, and reach 1 million barrels in 2028.
Neuquén, output will reach 450,000 barrels per day by the end of the year
This estimate seems ambitious, but the minister explained “Neuquen is increasing production by nearly 125,000 barrels per year. “So as the activity stabilizes each month, $10,000 is added to Butcher’s account because we know it changes based on when the well is connected.”
But beyond these changes, harnessing the energy chief of the province of Vaca Muerta believes that ““Production from Neuquen is expected to reach 450,000 barrels per day between now and the end of this year.”.
Neuquen’s energy minister took stock of the year, noting that while “within expectations” he warned that “In a year of government changes, many indicators could have been worse but actually got bettersuch as the arrival of drilling equipment. All of this is related to inventories, export restrictions have not changed, but it has been a more positive year than expected.
Among the positive highlights, he lists “investment commitments, new companies established, advances in technologies such as electrical equipment and gas turbines. “This is the year to look but invest.”
He emphasized, “Next year we will see the inertia of new equipment, because from the moment we start making the pads, it takes eight months to come on line, and there will also be a reversal of the northern gas pipeline.”
In this sense, His forecast for 2025 is good, Because “first you put the resources in, then you have to feed it with what Your investments will be higher than they were this year. In addition, productivity has also been greatly improved, And there are more teams, more scenarios and better productivity conditions. Therefore he emphasized that “No matter what the macro is, this is a wheel that is hard to stop.”.
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