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
| 16 Feb 26 |
Argentina: DOF Group awarded contract in Argentina DOF Group has announced the award of a Substantial* contract for a project in Argentina. DOF will utilise Skandi Hera and Skandi Patagonia for the project with an expected combined duration of more than 250 days. |
| 12 Feb 26 |
Argentina: Eni, YPF and XRG sign Joint Development Agreement advancing Argentina LNG Eni, YPF and XRG, the foundational project partners, today announced they have signed a binding Joint Development Agreement (JDA) to advance Argentina LNG. This large-scale integrated gas and liquefaction project will unlock Argentina’s Vaca Muerta shale basin and help position the country as a long-term global LNG supplier. |
| 09 Feb 26 |
Argentina: Interoil completes strategic exit from Argentina Interoil has completed a strategic decision to exit its conventional operations in Argentina. The Argentine assets were sold to an Argentine investor in a transaction valued at a price of up to USD 1,000,000, payable in ten contingent installments. |
| 02 Feb 26 |
Argentina: Equinor captures value through sale of Argentina onshore assets Equinor has signed an agreement with Vista Energy to divest its full onshore position in Argentina’s Vaca Muerta basin. The transaction includes Equinor’s 30% non-operated interest in the Bandurria Sur asset and its 50% non-operated interest in the Bajo del Toro asset. Equinor’s Argentinian offshore acreage is not affected by the transaction. The total consideration is valued at around USD 1.1 billion. |
| 02 Feb 26 |
Argentina: Archer enters into an agreement to sell the workover business in the south of Argentina Archer has entered into an agreement with a local buyer regarding potential sale of the workover business in the south of 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
