Unconventional oil production set a new record in December

Unconventional oil production set a new record in December

The numbers released by the Secretariat confirmed the sustained increase in activity in Argentina.

Unconventional oil production in Argentina exceeded 282,000 barrels per day in Decemberwhich meant the highest peak in its historyaccording to data from the Ministry of Energy.

In this regard, the secretary of the area, Flavia Royon, He highlighted in a statement that “we have closed 2022 with historic highs in oil production” and assured that “the bar was raised month by month and unconventional production records were broken throughout the year and December was no exception.”

Regarding his management at the head of Energy, he stressed that “together with Minister Sergio Massa we are convinced that increases in the volumes of (non-conventional) oil enhance the value chain, generating more genuine employment and higher foreign exchange income for the country“.

At a general level, the oil production numbers corresponding to the last month of 2022 released by the Secretariat confirmed the sustained increase in activity in Argentina.

Indeed, in December the number of 622,500 barrels per day on average stood out, which allowed us to exceed the 3,065,000 m3 of total national productionwhich represented the highest total record since 2009, specified the Secretariat.

“We have closed 2022 with historic highs in oil production” and he assured that “the bar was raised month by month and unconventional production records were broken throughout the year and December was no exception.”Flavia Royon

Meanwhile, in the accumulated annual, total oil production in Argentina reached 34,346,420 m3 in 2022, equivalent to 591,800 average barrels per day, which meant a strong increase of 13.1% compared to 2021.

Of this total, unconventional represented 45%, a participation that reflects the consolidation of the contribution of this productive method to the whole of the hydrocarbon activity in Argentina, the statement highlighted.

In figures, in December shale oil contributed 282,400 barrels per day and set a new all-time record.

In this way, the volume was 2.1% higher than that of the immediately previous month and crystallized an increase of 32.9% in the interannual comparison.

To achieve these results, the fundamental contribution was made by the Vaca Muerta formation with 276,500 barrels per day, which meant an increase of 2.3% compared to last November and an increase of 33.9% in relation to December 2021.

On the other hand, from the business point of view, the national oil company YPF returned to lead the production ranking with a total of crude oil in the 12 months of 2022 of 16,349,508 m3, which was the equivalent of 281,747 barrels per day, 14%. more compared to 2021, when it reached 14,304,343 m3 and 246,498 barrels per day.



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