21st - 22nd April 2020
IN-VR Oil & Gas is pleased to announce the second edition of Argentina's official oil & gas, and energy conference “Argentina Oil, Gas, and Energy Summit 2020”. The Summit is the only official event for the Argentinian oil & gas, and energy industries.
Under the auspices of Agencia Argentina de Inversiones y Comercio Internacional, IN-VR Oil & Gas is honoured to organise the Argentina Oil, Gas, and Energy Summit on 21 - 22 April 2020 in Buenos Aires, Argentina.
The summit will present a unique platform for networking that will bring together existing and future operators in the oil & gas and energy industries in Argentina and Latin America. New investors and service providers will meet with the government to find the best ways to enter the thriving renewables industry in Argentina, and make the most out of the power grid expansion opportunities.
Argentina is the largest gas producer in South America and is one of the most important regional players in oil & gas.
Argentina’s proven natural gas reserves total 350 bcm (13.4 tcf), with output standing at 37.1 bcm (1.31 tcf). Argentina’s unconventional oil and gas plays have prolific potential. The country has the fourth-largest unproven, but technically recoverable reserves of shale oil at 27 billion barrels globally., Furthermore, it has the second-largest reserves of shale gas globally at 22.7 tcm.
Part of the success is thanks to Argentina’s masterful Gas Plan, which creates a framework for incentives in unconventional reservoirs and minimum gas price guarantees.
At 2.4 billion barrels, Argentina has the fourth-largest oil reserves in South America, with a total crude output of 593,000 bopd annually.
Vaca Muerta is the main non-conventional hydrocarbon formation in Argentina. The formation occupies an area of 36,000 km2, with resources estimated at 16 billion barrels of oil and 308 cubic feet of gas. The shale play is driving innovation through the commercial production of shale oil and gas, with many operators joining to benefit from this massive opportunity,
The Los Molles Formation;
The Los Molles formation is the second largest oil and gas formation in the Neuquén Basin, having more than 275 trillion cubic feet of technically recoverable shale gas and 3.7 billion barrels of technically recoverable oil, with plans for drilling more than 46 shale gas wells in recent years.
Argentina is creating an attractive environment for renewable energy investments. The Ministry of Energy launched an innovative renewable energy bidding program called RenovAr, aiming to produce 20% of Argentina's electricity from renewable sources by 2025, with the intermediate target of 16% by 2021.
197 projects have already been awarded, with potential for hundreds more.
With renewable energy accounting for 22% of consumption in Latin America, the time to enter the Argentinian renewables market as it is growing to reach this potential is now.
With 80% of Argentina using local grids, the opportunity for energy grid projects and consulting is higher than ever, as power generation from renewables and shale gas are increasing exponentially.