Argentina's Oldelval expects Vaca Muerta output to hit 1 million bpd by 2028
"We committed some time ago to ensuring the basin would no longer face transportation bottlenecks,” Hosel said at an event in Buenos Aires, adding that by 2031 the country will not have problems with oil transport capacity. The formation holds the world's fourth-largest shale oil reserves and is a cornerstone of President Javier Milei's economic strategy, which seeks to boost Argentina's financial stability through increased energy exports.
Argentina's Vaca Muerta shale formation is on track to produce one million barrels of oil per day by the second quarter of 2028, Ricardo Hösel, CEO of oil pipeline operator Oleoductos del Valle (Oldelval), said on Tuesday. Vaca Muerta is the vast shale formation the size of Belgium that has transformed Argentina into a fast-growing energy producer and raised hopes it could become a major exporter as well.
Oldelval is responsible for transporting oil from the Vaca Muerta field to Argentina's export ports, and manages a $1.4 billion pipeline that connects the western Neuquen basin, home of Vaca Muerta, to the country's Atlantic coast. "We committed some time ago to ensuring the basin would no longer face transportation bottlenecks," Hosel said at an event in Buenos Aires, adding that by 2031 the country will not have problems with oil transport capacity.
The formation holds the world's fourth-largest shale oil reserves and is a cornerstone of President Javier Milei's economic strategy, which seeks to boost Argentina's financial stability through increased energy exports. In April, Argentina's energy minister said the South American country may hit 1 million bpd in oil output in 2026, with current production just over 850,000 bpd.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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