Project Profile
Value: US$1.6 billion
Location: Neuquen province, Vaca Muerta shale, Argentina
Capacity (processing): 12,000 barrels of liquids and 500,000 cubic meters of natural gas per day
Production: 65,000 boepd (May, 2017)
Start-up Year: January 2014
YPF is seeing a ramp-up in production from the Loma Campana block in Neuquen province, where the state-led company is carrying out a high-intensity pilot project in partnership with Chevron in the promising Vaca Muerta shale. YPF hit new record production of 24,000 barrels of oil equivalent per day, a 20% jump from the previous month. The company has also installed its third of fourth processing units, locally built equipment with capacity for 12,000 barrels of liquids and 500,000 cubic meters of natural gas per day. YPF anticipates that the shale cluster will ultimately see the installation of 15 similar units. The area has US$1.6 billion investment planned for 2014, with 22 rigs working and 198 wells drilled. Chevron, which signed a US$1.24 billion joint-venture deal with YPF last July, announced a US$1.6 billion expansion in April. The exploration pair would drill 170 wells in the play this year, up from the previous target of 140. The company has previously projected production of 80,000 boepd by 2017.
Operators:
Yacimientos Petrolíferos Fiscales (YPF): Operator with 50% interest
Chevron Corporation: 50% interest