South America / GoM
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 Nov 24 |
Argentina: GeoPark announces exploration success at Confluencia Norte GeoPark, a leading independent Latin American oil and gas explorer, operator, and consolidator, has announced the successful start of production in the Confluencia Norte Block (GeoPark non-operated, 50% WI) in Rio Negro, Argentina. This marks a major de-risking achievement in GeoPark’s partnership with Phoenix Global Resources in the Vaca Muerta formation. |
| 04 Nov 24 |
Argentina: ExxonMobil to sell Vaca Muerta assets to Pluspetrol ExxonMobil has agreed to sell its oil and gas assets in Argentina's Vaca Muerta formation to Pluspetrol, according to a Reuters report, citing a source at ExxonMobil. |
| 15 Oct 24 |
Argentina: TotalEnergies provides review of Fenix offshore gas field On September 20, 2024, TotalEnergies announced that it was starting production from the Fenix offshore gas field off the coast of Tierra del Fuego two years after the final investment decision (FID). Featuring a production capacity of 10 million cubic meters of gas per day, Fenix reflects the Company's commitment to contribute to a sustainable gas supply in Argentina. |
| 20 Sep 24 |
Argentina: TotalEnergies announces production start-up at Fenix offshore gas field TotalEnergies has announced the start of production from the Fenix gas field, located 60 km off the coast of Tierra del Fuego in Southern Argentina. |
| 01 Aug 24 |
Argentina: Archer acquires Managed Pressure Drilling service provider Archer has entered into an agreement with Air Drilling Associates, Inc to acquire their Managed Pressure Drilling ('MPD') subsidiary ADA Argentina. ADA provides MPD services to Archer’s largest customers in the Vaca Muerta basin in Argentina. |
Argentina - more news
Other countries in this region
- Aruba,
- Bahamas,
- Barbados,
- Belize,
- Bermuda,
- Bolivia,
- Brazil,
- Canada,
- Chile,
- Colombia,
- Costa Rica,
- Cuba,
- Dominican Republic,
- Ecuador,
- Falklands,
- French Guiana,
- Grenada,
- Guatemala,
- Gulf of Mexico,
- Guyana,
- Honduras,
- Jamaica,
- Mexico,
- Nicaragua,
- Panama,
- Paraguay,
- Peru,
- Suriname,
- Trinidad,
- Uruguay,
- USA,
- Venezuela
