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
| 08 Jul 24 |
Argentina: Golar LNG signs agreement for 20-year FLNG deployment in Argentina Golar LNG has entered into definitive agreements with Pan American Energy for a 20-year deployment of a Floating Liquefied Natural Gas ('FLNG') vessel in Argentina. The FLNG project will monetize Argentine gas, tapping into the vast resources from the Vaca Muerta shale formation in the Neuquina Basin, the world's second-largest shale gas resources. The project is expected to start LNG exports within 2027, establishing Argentina as an LNG exporter. |
| 10 Jun 24 |
Argentina: Wintershall Dea announces start of development drilling at the Fenix gas field off the coast of Argentina Wintershall Dea and its partners Total Austral, subsidiary of TotalEnergies in Argentina (operator), and Pan American Energy have commenced development drilling at the Fénix field, around 60 kms off the coast of Tierra del Fuego. Fénix is the largest natural gas field under development offshore Argentina and the project is on track for first gas end of 2024. |
| 13 May 24 |
Argentina: GeoPark announces acquisition of working interest in four high quality adjacent blocks in world class Vaca Muerta GeoPark, has signed an Asset Purchase Agreement with Phoenix Global Resources, a subsidiary of Mercuria Energy Trading, for the acquisition of non-operated working interest in four adjacent unconventional blocks in the Neuquén Basin in Argentina. |
| 12 Apr 24 |
Argentina: GeoPark announces exclusive negotiations for unconventional blocks in Vaca Muerta in Argentina GeoPark, a leading independent Latin American oil and gas explorer, operator, and consolidator, has announced that the Company has submitted a binding offer to acquire a non-operated Working Interest in unconventional blocks in the Neuquen Basin in Argentina. |
| 14 Feb 24 |
Argentina: Wintershall Dea announces successful installation of Fenix Platform off the coast of Argentina Wintershall Dea and its partners TotalEnergies (operator) and Pan American Energy have successfully completed the installation of the Fénix platform, around 60 kms off the coast of Tierra del Fuego, in 70 meter water depth. First gas is scheduled end of 2024. |
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
