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
| 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. |
| 16 Jan 26 |
Argentina: Archer signs agreement with Patterson-UTI to lease two high spec drilling rigs for the Vaca Muerta field in Argentina Archer and Patterson-UTI have entered into an agreement for Archer to rent 2 high spec drilling rigs from Patterson-UTI. These rigs are designed to optimize drilling efficiency in non-conventional fields such as the Vaca Muerta shale formation and will be deployed under Archer’s recently announced seven-rig drilling contract with YPF. |
| 06 Jan 26 |
Argentina: Continental Resources expands Vaca Muerta position through agreement with Pan American Energy Continental Resources has signed an Assets Sale and Purchase Agreement with Pan American Energy (PAE) to acquire certain non-operating interests in four blocks located within the Vaca Muerta shale play in Argentina's Neuquén Basin. |
| 01 Dec 25 |
Argentina: Archer secures drilling contract in Vaca Muerta with estimated value of $600 million Archer has announced the signing of a new five-year contract with YPF for the provision of drilling services in Vaca Muerta, Argentina. The contract, with an estimated value of $600 million, covers the provision and operation of seven advanced drilling rigs. |
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
