(YPF, 1.Oct.2018) — Argentina’s unconventional oil & gas resources are among the world’s largest. YPF is working and investing to increase production with the aim of meeting the challenge of regaining energy self-sufficiency.
The importance of hydrocarbons
Energy is the basis of our society and our way of life. We depend on it for food production, transportation, heating, electricity, lighting, telecommunications and technology.
The economic development of the country depends on the availability of oil and gas, the main sources of energy which do not only generate electricity.
90% of the objects we use every day are derived from petroleum products. Petroleum is also essential for producing bottles, bags, cell phones, watches, clothing, paint, detergents, fertilizers, toothpaste, hair conditioner and much more.
Moreover, in Argentina, 1,800 million liters of diesel are used to produce 100 million tons of grain annually.
It is estimated that by 2040 renewable energies will occupy nearly 15% of the world’s energy matrix. However energy from fossil fuels will continue to occupy a high percentage of more than 80%.
Resources to regain self-sufficiency
Due to the natural decline of conventional hydrocarbon reserves and a sustained increase in demand for fuel and the thousands of products derived from it, in addition to alternative energies it is also necessary to explore and add new resources. Shale is a sedimentary formation with low permeability which contains unconventional hydrocarbons housed in the micropores of the rock. To extract oil and gas from this rock conventional perforations are performed similar to those used in Argentina over the past 70 years, and with the addition of a next-generation technology known as hydraulic stimulation. The highest safety standards are applied in this technique and this ensures both efficiency and environmental care.
Our country has an enormous worldwide potential to obtain large hydrocarbon reserves from unconventional resources.
It is a geological formation of 30,000 km² (12,000 km² in concession to YPF) located mainly in the province of Neuquén and containing oil and gas found at a depth of more than 2,500 meters, far from the groundwater that in this region is located at a depth of between 300 and 400 meters.
The relevance of Vaca Muerta is so significant that the development of only a small part of this formation could cover the country’s energy deficit.