highlights of operations
Chevron produces crude oil and natural gas in Argentina through our wholly owned subsidiary Chevron Argentina S.R.L.
Chevron Argentina is the seventh-largest producer of oil in the country, with concessions in the Neuquén Basin. Expanded waterflood operations are sustaining oil output at the El Trapial Field, and the company is exploring for unconventional oil and gas resources in the Vaca Muerta Shale.
In 2014, we announced agreements to continue development, through another subsidiary, of shale oil and gas resources at the Loma Campana Field in the Vaca Muerta formation in Neuquén province. Also in 2014, Chevron affiliates signed agreements to join an exploration project for shale oil in the Narambuena Block in the Chihuido de la Sierra Negra concession, which is also in the Vaca Muerta Shale. Both are operated by YPF, an Argentine energy company.
Separately, a Chevron Shared Services Center operates in Buenos Aires. It provides information technology and accounting support services for affiliates in Latin America, the United Kingdom and the United States.
Chevron Argentina supports social investment programs that promote education, health and economic development in the communities where the company operates.
exploration and production
During 2016, net daily production in Argentina averaged 20,000 barrels of crude oil and 32 million cubic feet of natural gas.
Chevron Argentina S.R.L. holds an 85 percent-owned and operated interest in one concession that covers 94,000 net acres (380 sq km) and has both conventional production and Vaca Muerta Shale potential.
The company also holds operated interests ranging from 18.8 percent to 100 percent in three concessions covering 73,000 net acres (295 sq km) elsewhere in the Neuquén Basin.
In addition, in the Vaca Muerta Shale formation – a thick, laterally extensive, liquids-rich shale – another Chevron subsidiary participates in two areas covering 73,000 net acres (295 sq km), the Loma Campana concession and the Narambuena Block.
Development activities continued in 2016 on the Loma Campana concession in the Vaca Muerta Shale, with an average of five rigs per month onsite. In 2016, 58 horizontal wells were drilled. The drilling program is expected to continue in 2017.
Exploration work continued in 2016 with one horizontal and three vertical wells in the nonoperated Narambuena Block. The results of that work are being evaluated.
pipeline in the neuquén basin
Another Chevron affiliate 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.
A Chevron Shared Services Center operates in Buenos Aires. The center provides accounting services and information technology support for many of Chevron’s affiliates in Latin America, the United Kingdom and the United States.
in the community
Chevron Argentina partners with local leaders, nongovernmental organizations and other entities to help communities in the areas where we operate. The company supports health, education and economic development programs.
Together with the Ministry of Health in Neuquén province, Chevron sponsors Rolling Smiles, a program that provides free dental care in neighborhoods in Neuquén city. The company has also donated a refrigerated truck to transport medical supplies to remote hospitals in the province.
In Rincón de los Sauces, we worked with municipal authorities to build a water storage facility that provides residents with access to drinking water, and in 2015, we extended our commitment by adding a new water pipeline.
In 2016, Chevron Argentina and the YPF Foundation partnered with the Baylor College of Medicine International Pediatric AIDS Initiative at Texas Children’s Hospital and the Health Ministry of Neuquén province to launch a maternal-child health care program in Añelo.
Chevron Argentina S.R.L. is committed to education. For more than 10 years, we have sponsored Rural School 173 Ruca Quimpen in Huantraico, providing building maintenance, food and fuel.
We are also one of the main supporters of the Instituto Tecnológico de Buenos Aires, where we have developed a scholarship program for petroleum engineering students.
Chevron Argentina partners with Fundación Otras Voces (Other Voices Foundation) in support of the Entrepreneurs in Action program. This initiative provides training and support for women from underprivileged neighborhoods in Neuquén city who have small businesses that offer services such as cooking and sewing.
Also in Neuquén city, we support an initiative that offers free workshops to improve job skills and promote small businesses. The project aims to advance local economic growth and generate employment opportunities.
joining our partners
Chevron Argentina also supports the YPF Foundation, which contributes to programs in education, environment, health care, culture, science and research, alternative energy, and community development. The programs are selected by the foundation, the Neuquén province government and local communities. They have included infrastructure projects such as construction of solid waste and water supply facilities at schools in several provinces and expansion of a convention center.
record of achievement
Chevron began selling automotive fuels in Argentina in the first half of the 20th century and started exploring for oil in the 1980s. After the deregulation of the oil and gas market in 1989, Chevron affiliates expanded exploration, production and marketing operations.
In 1999, Chevron increased its presence in Argentina with the purchase of Petrolera Argentina San Jorge S.A., a company with a history of successful exploration in the Neuquén Basin.
We are a significant partner in the nation’s economy. Oil production in Argentina is an important source of employment and generates revenue for the federal and provincial governments.
Chevron employees demonstrate a strong commitment to high-quality work and safe operations. The Argentina Oil and Gas Institute recognized Chevron in 2016 with its Annual Safety Award for our outstanding safety performance, an award the company also received in 2011.
The Superintendent of Occupational Risks has recognized Chevron Argentina for achieving work environment standards that meet and surpass those required by law.
In 2014, the city of Rincón de los Sauces, near Chevron Argentina’s El Trapial Field, recognized the company for its commitment to improving the quality of life of the city’s citizens.
Tte Gral. Juan Domingo Peron 925
Buenos Aires, Argentina, C1038AAS
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