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EIA: Argentina, China lead shale development outside N. America

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06/26/2015

Argentina and China have respectively drilled more than 275 and 200 wells targeting shale plays over the past 2 years, providing each country with the potential to significantly increase production of shale gas and tight oil, the US Energy Information Administration highlighted on June 26 in an energy update.

In Argentina, YPF SA reported production in April of 22,900 b/d of oil and 67 MMcfd of natural gas from three joint ventures in the Neuquen basin’s Vaca Muerta shale formation in the west-central portion of the country. The JVs are with Chevron Corp. at Loma Campana field, Dow Chemical Co. at El Orejano field, and Malaysia’s state-run Petronas at La Amarga Chica field (OGJ Online, Aug. 28, 2014).

China Petroleum & Chemical Corp. (Sinopec) and OAO Gazprom also have recently signed a memorandum of understanding with YPF to jointly develop from Vaca Muerta.

read the full Article here: http://www.ogj.com/articles/2015/06/eia-argentina-china-lead-shale-development-outside-n-america.html