Argentina’s Vaca Muerta Looks to Attract $7 Bln in Investments in 2019

(Energy Analytics Institute, Jared Yamin, 6.Oct.2018) — Investors could inject $7 billion into the Vaca Muerta in 2019, announced Neuquén Governor, Omar Gutiérrez.

“In 2019, we will have 15 new drilling rigs conducting unconventional activity and reach an investment record with $7 billion,” reported the Argentine daily newspaper Clarin, citing comments from the official made during the International Oil & Gas Exhibition in the capital of Neuquén. “Each team requires a workforce of 200 people, therefore we will be generating 3,000 new jobs,” he add.

According to projections for next year, new extraction numbers could also be established.

In 2019, Argentina’s natural gas production is expected to reach 90 million cubic meters per day (MMcm/d), while crude oil production is expected to reach 140 thousand barrels per day (Mb/d). This compares to current Neuquén production of 68.6 MMcm/d and 113 Mb/d, the daily reported, without citing its sources.

The Neuquén basin generates 50% of Argentina’s gas, of which 61% of this figure currently comes from the Vaca Muerta, according to the daily. Additionally, 50% of the oil produced in Neuquén is also extracted from Vaca Muerta.