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 sixth-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 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 operated by YPF.
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 2015, net daily production in Argentina averaged 21,000 barrels of crude oil and 36 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 (294 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 (294 sq km), the Loma Campana concession and the Narambuena blocks.
Development activities continued in 2015 on the Loma Campana concession in the Vaca Muerta Shale, with an average of 13 rigs per month onsite, drilling both horizontal and vertical wells. In 2015, 156 wells were drilled, most of which were vertical wells. In 2016, the drilling plan shifts to primarily horizontal wells.
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. Exploration work continued in 2015. The exploration plan for Narambuena includes a total of nine wells to be drilled in two phases.
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 S.R.L. partners with local leaders, nongovernmental organizations (NGOs) and other entities to help communities in the areas where we operate. The company supports health, education, economic development and environmental programs.
Together with the Ministry of Health in Neuquén Province, Chevron Argentina sponsors Rolling Smiles, a program that provides free dental care in neighborhoods in Neuquén City. In 2014, Chevron Argentina also donated a refrigerated truck to transport medical supplies to remote hospitals in the province.
In Rincón de los Sauces, we have worked with municipal authorities to build a new water storage facility that provides residents with access to drinking water. In 2015, we extended our commitment by adding a new water pipeline.
For more than 13 years, Chevron Argentina S.R.L. has supported Alas del Alma (Wings of the Soul), an NGO that works with people with disabilities in Cipoletti, Rio Negro Province.
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 the local NGO Otras Voces (Other Voices) in support of the Women Entrepreneurs in Action program. This initiative provides disadvantaged women with training in accounting, marketing and administration skills to help them develop their own small businesses and related activities.
In the city of General Roca, Rio Negro Province, 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.
Chevron Argentina and our joint venture partners have supported the upgrade of health facilities in Añelo, Neuquén Province, as well as social investment programs that improve basic infrastructure, such as housing, water supply and sanitation.
Our affiliate 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, water supply and treatment 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 with its 2011 Annual Safety Award for our outstanding safety performance.
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.
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