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> Shale developments in Argentina
Shale developments in Argentina
02 Sep 2013
Securing adequate water resources will be critical for exploration and production companies seeking to tap Argentina’s shale resources, experts have said.
Argentina President Cristina Fernandez de Kirchner last month signed a decree establishing new incentives to boost shale exploration activity in Argentina. The new decree was released a day before U.S.-based Chevron Corp. and YPF S.A. announced plans to invest $1.5 billion to develop shale resources in Argentina’s Neuquen province. YPF expects its next shale oil and gas partnership to be with a group that includes China’s CNOOC Ltd.
Argentina ranks fourth behind Russia, the United States and China in terms of technically recoverable shale oil resources, and second behind China in terms of technically recoverable shale gas resources, according to a June 2013 report by the U.S. Energy Information Administration (EIA) and Advanced Resources International (ARI) of global shale resources.
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