Vaca muerta strategy acreage mm acres achieve all these objectives with the highest standards in safety and sustainability 3. Ypf vetting is a professional team committed to ensure that vessels chartered by ypf, carrying ypf product or those operating in companys own terminals, fullycomply with the highest safety and quality standards that regulate international and local marit. Energy subsidies declining, still drive development of vaca muerta. Jul 14, 2011 results encourage the continued exploration planned for the vaca muerta formation in 2011. It is well known as the host rock for major deposits of shale oil and shale gas the large oil discovery in the vaca muerta formation was made in 2010 by the former repsol ypf. The vaca muerta deal will also somewhat rebalance the almost monopolelike holding ypf had on the neuquen basin fields. Aside from argentinas stateowned ypf, operators such as tecpetrol, bp, total, and a few other firms are just now entering the development phase. Sociedad anonima ypf, argentinas majority stateowned oil and gas company. Thus, oil and gas production decreased significantly and the country had to migrate once again to the import of hydrocarbons, given. Ypf to emulate us shale boom in vaca muerta shale field. Ypf sociedad anonima, 6k, july 14, 2011 powered by morningstar document research. The first exploratory wells drilled in 2010 exhibited good production which resulted in a field wide development plan being executed. Ypf, shell sign deal for vaca muerta pilot project royal. Covering the latest oil and gas news including shale, lng, drilling, exploration and production.
Argentina delivers first exports from vaca muerta deposit. Integrated geomechanical characterization for vaca muerta. Ypf does not undertake to publicly update or revise these. Nov 18, 2015 our inaugural vaca muerta development study offers groundbreaking economic analysis of argentinas massive vaca muerta shale. Unconventional oil and gas production is accellerating 18 0% 5% 10% 15% 20% 25% 30% 35%0,2 0,4 0,6 0,8 1,0 1,2 1,4 1,6. Because these types of plays provide many challenges to operators, they have been slow to develop in other parts of the world.
Argentinas ypf to spend billions to boost oil and gas. The rise of vaca muerta leonardo javier mastronardi national director of scenarios and energy planning undersecretariat of energy planining july 2019 energy in argentina. Interference behavior analysis in vaca muerta shale oil. Bookmark file pdf vaca muerta spanish edition than 2,500 meters, far from the groundwater that in this region is located at a depth of between 300 and 400 meters. Currently, ypf is producing around 110,000 boed in the vaca muerta shale, but ypf will quickly increase production to 365,000 boed by 2030, and the total production from vaca muerta shale could reach about 620,000 boed. Vaca muerta s geological characteristics seem comparable to the bakken and eagle ford shale plays in the united states. Vaca muerta megaproject the fact that it is 100% stateowned, it plans to be listed on the buenos aires stock exchange in the near future. Shell hopes argentinas hydrocarbon exports tax will.
Financial risks cloud development of argentinas vaca. Ypf and schlumberger signed a joint venture agreement to. This paper concerns investment policy and how the european union should design investment treaties now that 1. Ypf, argentinas national oil company, holds roughly 40% of the vaca muerta acreage 5, and therefore will have a key role. Securing the supply chain for developing vaca muerta. Ypfchevron loma campana concession, patagonia, argentina. While ypf is the leading investor in vaca muerta, the argentine government has tried to spur investment in the region with a labor agreement to incentivize competition among oil and gas drillers. Argentina, the expropriation of repsol ypf, and the case for. Apr 11, 2014 vaca muerta formation located in the neuquen province in argentina. Ypf and ge are collaborating on electricity projects in argentina, including plants in tucuman province and near the vaca muerta shale. Safe harbor statement under the us private securities litigation reform act of 1995. Total, bp unit, ypf boost investment in argentinas vaca.
Varias disputas silenciosas tienen en vilo al sector. Initially discovered by ypf in november 2011, the vaca muerta shale play is quickly gaining international attention as a robust unconventional target. But the company is hardly in the best position to lead the vanguard. Pdf the challenge of developing vaca muerta fm in areas with multiple landing zones. Ypf and shell, along with oil majors chevron corp, total sa and bp unit pan american energy llc bppae. Apr 16, 2020 argentine state energy firm ypf has cut production by around half at its giant vaca muerta shale development loma campana due to a slump in demand amid the global coronavirus pandemic and a nationwide lockdown, local media reported on thursday. Landing zone dirigido clusters mas estrechos mas clusters por etapa 14.
On march 29, 2012, ypf announced that it had discovered the presence of significant additional oil resources in the vaca muerta foundation. An integrated unconventionalreservoirspecific workflow was utilized to develop and evaluate the completion strategies for the subject well. Ypf also recently signed a major deal with petronas. Egypt brasil the potential of the onshore parana basin remains to be evaluated. Resources estimated between 700 mbbl and 2,2 bbbl in east bahariya. The vaca muerta formation, commonly known as the vaca muerta spanish for dead cow is a geologic formation of late jurassic to early cretaceous age, located in the neuquen basin in northern patagonia, argentina. This project confirms the relevance and demand for providing innovative floating lng solutions to a growing market. Vaca muerta latest oil and gas news upstream online. Yours faithfully, mauro dacomo attorney in fact source. Vaca muerta s potential first came to light in 2011, when ypf, the largest oil company based in argentina and controlled by spains repsol at the time, announced the discovery of large reserves in. Plaintiffs allege that the existence of vaca muerta had been known for years, and that the discovery was announced in order to drive up ypf s share price. There are currently more than 300 wells on production. Ypf announced the discovery in november 2011 of an 8071 km 2 unconventional oil field, vaca muerta, with recoverable reserves of 22. A subsidiary of the company today signed an agreement with affiliates of the argentine oil company ypf s.
Since the project is in its initial stage we do not yet have enough information to quantify the reserves. Equinor strengthens its presence in argentinas vaca muerta. Shale oil well integration from logs, core and pressures. Political turmoil, price freeze cast shadow on argentinas. Outlined in this study is the evolution of a unique, engineered coiled tubing design, considerations and operation details which helped set and push the limits of extended reach ct interventions, utilizing available ct equipment and technology in the vaca muerta shale. Vaca muerta s potential stacks up against successful shale plays of north america. Loma campana field, located in the neuquen basin, produces from the vaca muerta formation vm which is a shale oil reservoir. Ypf to boost production in vaca muerta in 2018, costs fall. Vaca muerta shale formation could be key to argentinas. Royal dutch shell plc hopes a tax on hydrocarbon exports from argentina will expire by the end of 2020 to help lower production costs in the nations promising vaca muerta shale play, a company.
Download fulltext pdf download fulltext pdf download fulltext pdf integrated geomechanical characterization for vaca muerta formation. It is well known as the host rock for major deposits of shale oil and shale gas. The average thickness and reservoir pressure of formation is much higher than these two plays, clearly signifying enormous potential. Vaca muerta shaletaming a giant unconventional resource plays revolutionized oil and gas production in north america. Vaca muerta coiled tubing operations success and the. The value of the possible deal is unclear, as ypf has not made public the value of its ypf energia electrica subsidiary. Pdf reducing drilling risks in highly overpressurized. Unlocking the true potential of the vaca muerta shale via an. Argentinas statecontrolled energy company ypf and malaysias petronas petr. Stratas estimated timing of the new wells by month from 2019 to 2030 for ypf as well as other operators. Not only do ypf and gyp share a similar ownership structure, they also provide an entry point for private investors. This document contains statements that ypf believes.
New shale production case studies and the latest results. Argentinas vaca muerta shale oil and gas offers tough. Argentinas vaca muerta shale oil and gas offers tough lessons. Cvx today signed an agreement with affiliates of the argentine oil company ypf s. File photo the vaca muerta shale oil drilling rig is seen in the patagonian province of neuquen, argentina, in this july 11, 20 handout photo. Financial risks cloud development of argentinas vaca muerta oil. Vaca muerta worlds secondlargest shale gas reserves. All structured data from the file and property namespaces is available under the.
This is a significant step in our subsidiaries joint efforts with ypf to develop one of the most exciting shale plays in the world today, said george kirkland, vice chairman of chevron corporation. First, a fieldwide 3d static geologic model was constructed using the aforementioned data to determine the best reservoir and completion qualities of the vaca muerta formation. The ypf position vaca muerta play vaca muerta is present in an area of 30,000 km2 7. Supply chain for shale operations field development requires a wide range of equipment, services and materials, with varying degrees of capital, technological and labor involvement. Ypf sociedad anonimaypf, an argentine staterun energy company foresees its shale production to rise 35% this year as the cost of production in the vaca muerta shale play continues to fall, where. Sep 16, 2019 martina gallardobarreyro, an assistant vice president and analyst for moodys who specializes in the latin america oil and gas sector, said a government fuel price freeze and the ypf s subsequent currency change implied a definite slowdown for vaca muerta operations, though the full extent is still unknown. The leading global oil, gas and energy news resource. We divide the play into four subareas and use reported wellbywell data to forecast well economics and production. Their production gains should help bolster vaca muerta gas production above 3 bcfd by the end of 2021, rystad projects.
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