Attractive Investment Scenario - Supporting the Market
Argentina’s previous administrative policies have resulted in underinvestment in the upstream oil & gas sector. The new government is focused on making the upstream sector attractive, and it has developed a constructive pricing framework. The government reduced the high subsidies on natural gas, gasoline, and electricity prices, in 2016. The government is planning to eliminate natural gas subsidies by 2022, and increase the prices for upstream gas producers, to attract sufficient investment in production. The move is in line with the aim of becoming self-sufficient in terms of energy. As a result, the government-friendly business environment is expected to drive the country’s oil & gas upstream market.
Shale exploration - Driving the Market
Argentina has the second-largest shale reserves in the world. It has 23 trillion cubic meters of shale gas and 27 billion barrels of tight oil, which are attracting big oil & gas companies, such as Exxon Mobil, Statoil, Petronas, and Sinopec, to form a partnership with YPF to explore the reserves. Argentina’s YPF, along with Norway’s state owned oil and gas company Statoil, has signed a deal to jointly explore shale oil & gas resources in the Vaca Muerta formation. The companies are expected to invest around USD 300 million and USD 500 million for the exploration.
Offshore Development - Opportunity for the Market
In the past 15 years, Argentina did not have any major offshore development. The Ministry of Energy for Argentina, is planning to launch an auction process for around 6 to 10 offshore exploration blocks, toward mid-2018. In 2017, Norway’s Spectrum did a seismic survey in cooperation with YPF SA, Argentina’s state-run oil firm. There is a high probability of discovery of oil & gas formation in the area. Most of the fields are based in Austral Marina, Malvinas Oeste, and Argentina Norte basins. The auction is expected to help in the development of Argentina’s offshore oil & gas fields, and hence, the upstream market.
High Inflation - Restraining the Market
In November 2017, the inflation rate in Argentina was above 20%. Further, due to the removal of gas subsidy, along with rising inflation, the labor in the country is demanding higher wages. As a result, the cost of doing business is high in the country.
Key Developments in the Market
- February 2018: YPF in association with Petronas will drill 10 horizontal wells in the third and last phase of pilot project in La Amarga Chica.
- November 2017: YPF has signed an agreement with PentaNova Energy Corp., for exploration of conventional fields in Mendoza.
Reasons to Purchase this Report
- Current and future Argentina oil & gas upstream market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel)
This report can be customized to meet your requirements.
2. Research Methodology
3. Market Overview
3.2 Oil & Gas Reserves in Argentina
3.3 Argentina's Crude Oil Production Forecast until 2023
3.4 Argentina's Contribution to Regional and World Oil & Gas Production, 2017
3.5 Argentina's Crude Oil Consumption Forecast until 2023
3.6 Recent Developments in Argentina Oil & Gas Industry
3.7 Government Policies and Regulations
4. Market Dynamics
5. PESTLE Analysis
6. Market Segmentation and Analysis
6.1 By Location
126.96.36.199 Key Project Information
188.8.131.52.1 Existing Projects
184.108.40.206.2 Projects in Pipeline
220.127.116.11.3 Upcoming Projects
18.104.22.168 Key Players
22.214.171.124 Key Project Information
126.96.36.199.1 Existing Projects
188.8.131.52.2 Projects in Pipeline
184.108.40.206.3 Upcoming Projects
220.127.116.11 Key Players
7. Key Company Analysis *(Overview, Products & Services, Financials**, Recent Developments and Analyst View)
7.1 YPF SA
7.2 Pan American Energy LLC
7.3 Chevron Corporation
7.4 Pluspetrol SA
8. Competitive Landscape
8.1 Mergers and Acquisitions
8.2 Joint Ventures, Collaborations, and Agreements
8.3 Strategies Adopted by Leading Players
9.1 Contact Us
*List not exhaustive
**Subject to Availability on Public Domain