Monday , April 19 2021

Oil and gas production grows

Again the unconventional Dead Cow boosted national levels of oil and gas production. In October there was an increase compared to September, as well as in the same month of 2017.

At the international level, there is a moment of uncertainty with crude oil prices. For the first time in more than a year, the benchmark barrel for Argentine prices, Brent, fell below the 60-dollar line.

Despite this, the results of the Neuquén basin projects are still celebrated in the country.

According to data recently published by the National Energy Secretariat, total oil production fell 0.1% compared to September, but rose 2% over the previous year and reached 498,000 barrels per day. The total extraction of shale and roasted (unconventional) oil increased 15% more than in October 2017.

The main responsibility for the new production ceilings was shale oil, which increased by 70% in relation to the previous year and by 3% in relation to September. Specifically, the contribution with this technique was 66,000 barrels of oil per day. It should be noted that conventional oil production still accounts for 85% of the total matrix.

In terms of gas, what was reached in October was 132 million cubic meters per day, which meant a year-on-year growth of 7%, where production was 124 MMm³ / day and an increase of 1, 2% in relation to September. 2018

Shale and unrefined gas presented an increase of 38% in October compared to the previous year. Again the shale gas is the main responsible for the increase of the extraction and is that in the tenth month of 2018 reached 25 MMm³ / d which meant a resounding increase of 243% in relation to October 2017 and 11% in relation to September.

With these figures, non-conventional gas production accounts for 38% of the country's total extraction. The conventional continues to lead with 62%.

The increases recorded are mainly due to the unconventional developments of shale oil and shale gas in the Neuquén Basin.


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