Argentina’s Hydrocarbon Production Reaches Highest Level in 15 Years

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HOUSTON, TEXAS (Editors at Energy Analytics Institute, 24.Jan.2025) — Argentina’s hydrocarbon production in 2024 reached levels last achieved in 15 years.

Oil production reached 256,268,454 barrels (bbls), its highest level since 2003, while gas production reached 50,726,747 cubic meters (m3), its highest level since 2006, Argentina’s Energy Secretariat announced 24 Jan. 2025 in an official statement. 

Oil production averaged 717.1 thousand barrels per day (Mb/d) in 2024, up 11% compared to 2023. In Dec. 2024, oil production averaged 765.6 Mb/d, up 11.5% sequentially compared to Nov. 2024.

Gas production averaged 124.4 million cubic meters per day (MMm3/d) in Dec. 2024, up 9% compared to Dec. 2023.

Rising unconventional production in Argentina continues to contribute to rising overall production at the national level.

In 2024, production from the prolific Vaca Muerta shale accounted for 54.9% of total oil production at the national level and 50.1% of total gas production as well as the national level. In Dec. 2024, the Vaca Muerta produced 446.9 Mb/d, up 26.9% compared to Dec. 2023.

RELATED: Argentina Reports Energy Surplus of $5.668bn in 2024

“These achievements are also driven by energy regulation through which prices are aligned with international values, freedom to export hydrocarbons is guaranteed, and legal certainty for companies is ensured, promoting transparency and competition,” Argentina’s Energy Secretariat said in the statement.

The Energy Secretariat also said that Argentina’s highly regulated system has been left behind opening opportunities for exports.

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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.

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Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.

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