The internationally renowned geologic formation, Vaca Muerta, caught the eye of several experts who says the potential neuquin subsoil can lead Argentina to reach their coveted “energy independence.”
However, times are pressing for Latin America who want to be part of a new “shale boom”. In this race, the Latin American analyst at Wood Mackenzie Ltd., Pablo Medina, recently reaffirmed that “the only place in Latin America that is seeing a real development of shale gas is the region of Vaca Muerta in Argentina.“
The expectation of the oil world regarding the potential of the Patagonian site is a reality that manifests itself considering the volume of investments made and planned and also the names of the players. If we take the latest ranking by Forbes magazine on major oil companies, six of the top ten firms are already operating in Vaca Muerta. Let’s see:
The ranking is completed with Statoil, Petrochina, Eni and British Petroleum. The later, in its forecast about the global energy outlook for the next 20 years said taht Latin America will be in the top 3 shale producers in 2035. Meanwhile, Statoil held a meeting with Miguel Galuccio, CEO of YPF,
To the list of the major carriers of the world market that are not at the top of the Forbes ranking it must be added the major carriers of the world market that have opted for the Argentine potential with good results as the Canadian Americas Petrogras and Crown Point Energy.
It also highlights the operations in the region of Wintershall with G and P Neuquén, in addition to the tasks announced by Pluspetrol and Dow.
Recently, ‘La Nación‘, stressed in his cover the statements from the energy analyst Duncan Wood, who said “for now” he would not invest in Vaca Muerta because he “expected to change the context.” However, also for the opposition in Argentina is time to bet on Vaca Muerta.
As its pointed by, for example, the deputy for Buenos Aires, Federico Sturzenegger, who emphasized in an interview last year that “we are going to a world with gas energy and very cheap oil,” and explained that the “huge deposit that we have is Vaca Muerta, and if we do not exploit it now, it will be worth a lot less the day we could get it out.”
However, as analysts debate from different points of view, a real investment is happening in the province of Neuquén. Routes are experiencing a true increase tanker traffic that reflects an industry in full swing.
The Neuquén territory has become a multicultural setting with the advent of oil experts from around the world who come to Argentina to learn about the developments they hope will transform the energy horizon.
Just being a few hours sited in the airport in the provincial capital to see how engineers, geologists and experts in oil and gas circulate through the halls wearing the shirts of the world’s leading companies. All for Vaca Muerta.