While U.S. shale basins face the maturity of oil fields that once seemed endless, the opposite is unfolding in Argentina’s Patagonia: Vaca Muerta is just getting started, and its momentum is already making allies and rivals take notice.
Vaca Muerta is now the world’s second-most productive shale formation, trailing only the Permian Basin in the United States. Here are the numbers, drivers and projections behind a level of growth Argentina has never seen before.
The project involves a 480-kilometer pipeline that will supply Southern Energy’s Argentina LNG project. This key infrastructure for energy exports is set to finalize its development plan in December. Both TGN and TGS have expressed interest in participating in the project.
A critical piece of equipment has lowered costs, sped up operations and reduced risks in Vaca Muerta, one of the most challenging geological formations in the world.
During Vista Energy’s recent Investor Day, where Miguel Galuccio, the company’s chief executive, laid out a strategic plan that includes a US$4.5 billion investment in Vaca Muerta through 2028, Shale24 secured an exclusive interview to capture his outlook.
The energy company is one of the jewels of the local market, and its returns are very good. The market sees it as a good bet
Vista outlined its five-year growth strategy at the event, targeting output of over 200,000 barrels of oil equivalent per day by 2030
It will consist of a 207-kilometer (128-mile) parallel pipeline and will increase transport capacity by an additional 220,000 barrels per day.