Argentina revises Vaca Muerta oil reserves to 30 billion barrels

Argentina has revised its estimate of recoverable oil reserves in the Vaca Muerta shale formation to 30 billion barrels, doubling the previous assessment of 15 billion barrels. The update, announced by state energy company YPF, reflects improved geological data and technological advancements in extraction methods.

The Vaca Muerta formation, located in the Neuquén Basin, is already a key driver of Argentina’s oil and gas production. The revised estimate underscores the formation’s potential to significantly boost the country’s energy independence and export capacity. YPF, which holds the majority of the acreage in Vaca Muerta, has been expanding drilling activity in recent years to capitalize on the resource.

The announcement follows a period of heightened investment in Argentina’s energy sector, amid efforts to stabilize domestic supply and attract foreign capital. The government has implemented policies to incentivize development, including tax breaks and infrastructure support, though regulatory challenges and macroeconomic volatility remain hurdles for sustained growth.

Analysts note that the revised reserves could position Argentina as a top-tier global oil producer, though the timeline for full-scale development depends on financing, technological deployment, and market conditions. The estimate does not include natural gas reserves, which were previously assessed separately.