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2021-03-25 11:55:00

ARGENTINA'S OIL GAS INVESTMENT $2.7 BLN

ARGENTINA'S OIL GAS INVESTMENT $2.7 BLN

ENERDATA24 Mar 2021 - Argentina’s national oil and gas company YPF will invest more than US$1.5bn in the southern province of Neuquén in 2021 to boost the production of shale oil from the Vaca Muerta play by 56% and that of unconventional gas by 70%.

Overall, the company plans to invest US$2.7bn in 2021 (+73% compared with a previous plan), of which 80% will be aimed at boosting oil and gas production in its fields, including US$1.5bn for upstream oil and US$600m for upstream gas. YPF intends to produce 208,000 b/d of oil and 12.8 bcm of natural gas in 2021. US$1.3bn will be invested to drill over 180 new wells and US$800m to improve oil recovery. YPF will also focus on gas production, investing US$600m in 2021 and US$900m over the next four years.

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Tags: ARGENTINA, SHALE, OIL, GAS, INVESTMENT