South America / GoM

Argentina flag
Summary | Profile

Country profile: Argentina

Location: Southern South America, bordering the South Atlantic Ocean, between Chile and Uruguay,0,0,0
Climate: mostly temperate; arid in southeast; subantarctic in southwest
Terrain: rich plains of the Pampas in northern half, flat to rolling plateau of Patagonia in south, rugged Andes along western border
Size: 2766890 sq. km total (Land area: 2736690 sq. km  Water area: 30200 sq.km)
Population: 40,677,348 (July 2008 est.)
Languages: Spanish (official), Italian, English, German, French
Government: republic
Capital city: Buenos Aires
Legal system: mixture of US and West European legal systems; has not accepted compulsory ICJ jurisdiction
Currency: Argentine peso (ARS)
Licensing:

Country profile

Argentina is one of South America’s largest economies. Argentina’s gross domestic product (GDP) grew by 8.4 percent in 2006 and 7.9 percent in 2007. This high level of economic growth has led to a corresponding increase in the demand for energy, especially natural gas. In contrast to the increase in demand, domestic production of oil and natural gas have stagnated and exports have declined. The imbalance between rising domestic energy demand and falling energy production has reportedly lead to sporadic shortages of electricity and natural gas, such as in June 2007, when the country experienced unusually-cold weather.

Energy production and consumption


Oil Gas
Production: 801,700 bbl/day (2005 est.) 43 billion cu m (2005 est.)
Consumption: 480,000 bbl/day (2005 est.) 38 billion cu m (2005 est.)
Exports: 367,600 bbl/day (2004) 6 billion cu m (2005 est.)
Imports: 21,650 bbl/day (2004) 1 billion cu m (2005)
Reserves: 2 billion bbl (2007 est.) 512 billion cu m (1 January 2006 est.)
Major fields:



Argentina - recent news

12 May 21
Argentina: President Energy reports positive results from the secondary recovery pilot project at Puesto Flores
President Energy reports positive results from the secondary recovery pilot project in the main Puesto Flores field in the Rio Negro Province, with potentially significant implications for arresting and reversing declines in certain of President's mature structures in Rio Negro.
10 May 21
Argentina: Interoil announces Argentina operational up-date
Interoil has announced that Velitec’s Work Over rig has been mobilized, fully rigged-up, certified and has started operation in the MMO-15 well in the Mata Magallanes Oeste (MMO) field in Argentina.
10 May 21
Argentina: President Energy announces Rio Negro drilling update
AIM-listed President Energy has provided an operational update with regard to certain activities in the Rio Negro Province, Argentina, and an update on the evolution of oil and gas prices in the country.
28 Apr 21
Argentina: President Energy announces drilling success at EV-1001 in the Estancia Vieja field, Rio Negro Province
President Energy reports that the EV-1001 well at the Estancia Vieja field, Rio Negro Province, Argentina, has encountered gas pay to support President's pre-drill projection of an initial production of some 60,000 m3/d. The well will be tested and then placed on production during the first half of May.
21 Apr 21
Argentina: President Energy announces Rio Negro drilling update
AIM-listed President Energy has provided an operational update with regard to certain activities in the Rio Negro Province, Argentina. Well LB-1001, Las Bases field now successfully on stream with production levels better than post workover tests.

Argentina - more news

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