Total oil production in May was the highest since November 2011, while crude oil and unconventional gas once again broke their monthly production record, according to the Ministry of Energy.
Oil production reached a total of 584,000 barrels per day in May, marking a year-on-year growth of 14% and being the highest in 20 years, while gas production reached 136 million cubic meters per day, 12% more than the same month last year.
The unconventional segment also continues to rise and set two new historical records: The production of unconventional oil reached approximately 241 thousand barrels per day and represented 41% of the country’s total production, with a year-on-year growth of 57%.
For its part, the production of unconventional gas was also the highest in history with approximately 76 million cubic meters per day and represented 56% of the country’s total, since during May 39% more unconventional gas was produced than in the same month of 2021.
From these data, the Secretary of Energy, Darío Martínezexpressed that “these numbers are very good for the economy, because mean more Argentine gas and oil, produced by Argentine workers, with national SMEs that provide technology and added value”.
“With clear rules and predictability, we gave impetus to a strategic sector for our energy development in a global context where energy is central. We have an activity in constant growth, thanks to the strong impetus we gave to Vaca Muerta,” added Martínez.
For the official, this historical record of unconventional production occurs at a time when “the commissioning of the new Néstor Kirchner gas pipeline will allow power scale gas production even more, increase exports, substitute imports with Argentine gas and generate thousands of jobs”.
Finally, the secretary also highlighted the success of the Gas plan and assured that “it allows us to continue building and strengthening a more federal country, because the increase in activity allows the provinces to receive more royalties to allocate them to education, health, security or whatever they believe is a priority.”
