Is deepwater drilling a good idea in Argentina?

Deepwater drilling for oil and gas is gaining a fresh foothold in Argentina, defying climate warnings and predictions for falling demand. A top European oil company is about to plunge a drill-bit into South Atlantic waters off Argentina that are at least as deep as five Eiffel Towers.

Why are oil and natural gas production rising in Argentina?

Crude oil and natural gas production in Argentina are both nearing record highs, driven by increasing output from the Vaca Muerta shale formation, which is offsetting declining output from conventional oil and natural gas fields.

How much shale oil does Argentina produce a day?

Argentina's shale oil production currently is around 400,000 barrels per day. "But for that to happen, other things are needed: more infrastructure to bring the oil to the ports, and many more people in the workforce and more equipment." More people are starting to believe the dream that Argentina could become a serious global energy player.

Why is Argentina reversing Vaca Muerta pipelines?

Meanwhile, Argentina is investing in infrastructure to expand the distribution of natural gas from the Vaca Muerta formation to northern Argentina, including reversing pipelines designed for imports from Bolivia in order to export natural gas to Brazil.

Why is fracking a problem in Argentina?

Argentina has seen a boom in the number of fracking wells used to produce shale oil and gas in recent years. The local governor says Anelo has added 1,000 residents in the last year. This has strained local infrastructure, a broader challenge for growth.

Could a gas-prone deep offshore reopen a new chapter in Argentina's hydrocarbon industry?

The gas-prone deep offshore would open a new chapter in Argentina’s century-old hydrocarbons industry, one that proponents say would be more efficient and less carbon-intensive, at the production stage, compared with the country’s mature onshore and shallow-water operations.