Argentina’s unconventional oil and gas production reached a record in May

RIO DE JANEIRO, BRAZIL – Shale oil and gas production reached a record level in Argentina in May, informed on Tuesday, June 21, the Government, which is trying to leave behind the energy deficit that affects the public accounts, thanks to the potential of the Vaca Muerta formation.

Unconventional oil production reached 241,000 barrels per day, with a year-on-year growth of 57%, while “shale” gas production reached 76 million cubic meters per day, a year-on-year increase of 39%.

“We have an activity in permanent growth, thanks to the strong impulse we gave to Vaca Muerta,” said the Secretary of Energy, Darío Martínez.

The formation is the second-largest unconventional gas reserve in the world and one of the largest oil reserves.

The Argentine government also informed that total oil production reached 584,000 barrels per day in May, a year-on-year growth of 14%, while gas production was approximately 136 million cubic meters per day, 12% more than the same month last year.

Last week, Argentina signed a contract to advance the construction of a vital gas pipeline for the supply of gas extracted in Vaca Muerta, which would allow it to reverse its energy deficit.

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