Ashale-drilling frenzy in Argentina has put the country on the verge of leapfrogging regional rival Colombia as a top-three crude producer in South America.Drilling activity is accelerating in Argentina’s Vaca Muerta shale region. Shale oil now accounts for about 60 percent of Argentine crude and has put the nation on course to reach production levels unseen in more than 20 years.Drillers are expected to bring extra rigs to the Vaca Muerta next year. Ambitious infrastructure plans are also gaining momentum as Milei’s reforms give companies an opportunity to attract international finance for pipelines and ports.
December 9, 2024
SOURCE: BUENOS AIRES TIMES
Argentine oil output is poised to oust Colombia from South America’s top three