Argentina achieved a record oil production in September, thanks to the boost from the massive unconventional hydrocarbon formation of Vaca Muerta in the southwest of the country, according to official sources.
According to data from Argentina's Ministry of Energy, last month saw a new record for the country's monthly oil production, with 645,500 barrels per day. This represents a 2.3% increase compared to August and a 7% increase compared to the same month in 2022.
Unconventional crude production in Vaca Muerta in September reached 305,000 barrels per day, a record figure that is 2.7% higher than the previous month and an 18.1% year-on-year increase.
Argentina's Energy Secretary, Flavia Royon, stated that "these production records are the result of maintaining a consistent energy policy," along with the "decision" of the Argentine Minister of Economy and official presidential candidate, Sergio Massa, to "advance in the transportation infrastructure in the sector."
"The commitment of investors to the country is reflected in these production increases. In particular, the energy sector understands that Vaca Muerta is crucial for the growth of the national economy," added Royon.
Vaca Muerta, located in the province of Neuquén in the southwest, covers 30,000 square kilometers. This enormous formation is the second-largest unconventional gas reserve in the world and the fourth-largest in unconventional oil.
