Exploration and Production
In Argentina, Chevron produces crude oil and natural gas through a wholly owned subsidiary, Chevron Argentina S.R.L. Chevron Argentina has operated interests that range from 18.8 percent to 100 percent in four concessions in the Neuquén Basin.
In the Neuquén Basin, Chevron Argentina continued projects designed to reduce declines in production at the El Trapial Field in 2012.
In 2012, the company drilled two exploratory wells in the Vaca Muerta formation in the El Trapial Field, targeting natural gas from shale and tight oil resources. Tight oil is produced from reservoirs that are not very porous. In early 2013, Chevron Argentina began drilling a third exploratory well while evaluating results from the previous wells. Three more appraisal wells are planned for the year.
During 2012, net daily production averaged 21,000 barrels of crude oil and 4 million cubic feet of natural gas.
Pipeline in the Neuquén Basin
The company holds a 14 percent interest in Oleoductos del Valle S.A., a pipeline system that transports crude oil from the Neuquén Basin in western Argentina to the Buenos Aires area.
Business Support
Chevron Corporation operates a Shared Services Center in Buenos Aires. The center provides accounting services and information technology support for many of the operations in Latin America, the United Kingdom and the United States.
Updated: April 2013
Cautionary Statement