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Released March 13, 2025 | SUGAR LAND
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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--YPF (NYSE:YPF) (Buenos Aires), Argentina's state-owned energy company, announced that the Neuquen government granted it four new oil and gas production concessions at the La Angostura I and II, Narambuena and Aguada de la Arena blocks, located in the Vaca Muerta shale reservoir.
With these four blocks, YPF will seek to expand its already growing production of shale hydrocarbons.
Last year, the company had a shale output of 122,000 barrels of oil per day (BBL/d) in Vaca Muerta, about 26% more year-over-year, making it the largest producer in the shale area. In the last months of 2024, YPF was able to raise its output in Vaca Muerta to 138,000 BBL/d.
Oil exports from the shale reservoir were at 35,000 BBL/d in 2024, about 174% more year-over-year. Most of the exports flowed to Chile.
The company's P1 shale reserves in Vaca Muerta stand at 854 million barrels of oil equivalent, 13% more than in 2023. However, they likely will increase with exploration efforts being launched in the recently announced four blocks.
Shale hydrocarbon production has developed to accounting for 55.2% of the oil extracted in Argentina across 2024, compared to 2.9% a decade earlier.
The growing role of Vaca Muerta for Argentina's production is moving the South American nation to become one of the region's largest oil producers and a key energy exporter.
Besides its upstream development, YPF aims to increase its midstream capacity to cope with the growing shale production.
Late last year, the company announced the construction of a 550,000-BBL/d capacity oil pipeline, in partnership with other energy companies, to transport Vaca Muerta's output to a new export terminal on the Atlantic coast.
The oil pipeline would reach investments of US$3 billion, and it could expand its capacity to 700,000 BBL/d. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Pipelines Project Database can learn more about the pipeline from a detailed project report.
The midstream project could be part of Argentina's new Incentive Regime for Large Investments (RIGI), which grants fiscal and legal benefits to companies with multimillion projects in the South American nation
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
With these four blocks, YPF will seek to expand its already growing production of shale hydrocarbons.
Last year, the company had a shale output of 122,000 barrels of oil per day (BBL/d) in Vaca Muerta, about 26% more year-over-year, making it the largest producer in the shale area. In the last months of 2024, YPF was able to raise its output in Vaca Muerta to 138,000 BBL/d.
Oil exports from the shale reservoir were at 35,000 BBL/d in 2024, about 174% more year-over-year. Most of the exports flowed to Chile.
The company's P1 shale reserves in Vaca Muerta stand at 854 million barrels of oil equivalent, 13% more than in 2023. However, they likely will increase with exploration efforts being launched in the recently announced four blocks.
Shale hydrocarbon production has developed to accounting for 55.2% of the oil extracted in Argentina across 2024, compared to 2.9% a decade earlier.
The growing role of Vaca Muerta for Argentina's production is moving the South American nation to become one of the region's largest oil producers and a key energy exporter.
Besides its upstream development, YPF aims to increase its midstream capacity to cope with the growing shale production.
Late last year, the company announced the construction of a 550,000-BBL/d capacity oil pipeline, in partnership with other energy companies, to transport Vaca Muerta's output to a new export terminal on the Atlantic coast.
The oil pipeline would reach investments of US$3 billion, and it could expand its capacity to 700,000 BBL/d. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Pipelines Project Database can learn more about the pipeline from a detailed project report.
The midstream project could be part of Argentina's new Incentive Regime for Large Investments (RIGI), which grants fiscal and legal benefits to companies with multimillion projects in the South American nation
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
