San Jorge Basin
Argentina has a long history of oil and gas production stretching back to the start of the 20th century, with the first discovery made in 1907.
The country currently produces a little over 500,000 bopd and just over 4 bcfd of gas, representing around 75% of domestic oil consumption and 85% of domestic gas consumption.
The election of the Macri government in December 2015 has heralded another cycle of opening the industry to foreign investment which has involved the dismantling of a number of regulations. The new government in place has a focused and clear strategy to bring investment into the country and in particular to the energy sector.
Argentina is a leading shale region with the second largest recoverable shale gas resources and the fourth largest recoverable shale oil resources in the world, much of which is located in the Vaca Muerta formation