Gas production was up 7.6 percent in
May year-on-year, while oil production
rose 4.2 percent, the Finance Ministry
said in a statement.
“In May Argentina completed 13
straight months without needing to
import crude oil, something that had
not happened since 2012,” the government said in a press release.
Gas production is now at its highest
level since July 2019, officials added.
Following on from recent announcements by Shell and Exxon, there are
now seven areas under development in
Vaca Muerta, “which implies more production [to come] and employment in
the operations and the value chain,” the
press release said.
According to estimates from the Neuquén provincial government cited by
Noticias Argentinas, an estimated
1,500 wells will be operational by the
end of the year, with additional licenses
for another 900 installations approved
and under development.