highlights of operations
Chevron produces crude oil and natural gas in Argentina through our wholly owned subsidiary Chevron Argentina S.R.L.
Chevron Argentina S.R.L. is the eighth-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, Chevron 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 2019, net daily production in Argentina averaged 23,000 barrels of crude oil and 25 million cubic feet of natural gas.
Chevron Argentina S.R.L. holds a 100 percent-owned and operated interest in the El Trapial concession, which covers 111,000 net acres (450 sq km). The concession has both conventional production potential and Vaca Muerta Shale potential.
In addition, Chevron holds a 50 percent nonoperated interest in the Loma Campana and Narambuena concessions covering 73,000 net acres (295 sq km) in the thick, laterally extensive, liquids-rich Vaca Muerta Shale.
Nonoperated development activities continued in 2019 on the Loma Campana concession in the Vaca Muerta Shale, with an average of four rigs. Also, 48 horizontal wells were drilled in 2019.
The company uses waterflood operations to mitigate declines at the operated El Trapial Field and continues to evaluate the potential of the Vaca Muerta Shale. Chevron has drilled three horizontal wells as part of an eight-well appraisal program, which is expected to be completed in 2020. Pending results, a development drilling campaign may begin in 2021.
Evaluation of the nonoperated Narambuena Block continued with appraisal activity in 2019. Pending results, a development drilling program may begin in 2021. Chevron is also awaiting government approval on an exploration license for the 90 percent-owned and operated Loma del Molle Norte Block, consisting of 43,000 net acres (174 sq km) adjacent to the El Trapial concession.
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.
In 2017, Chevron Argentina continued its partnership with the Baylor College of Medicine International Pediatric AIDS Initiative at Texas Children’s Hospital and the Health Ministry of Neuquén province to provide maternal-child health care in Añelo.
For more than 10 years, we have sponsored Rural School 173 Ruca Quimpen in Huantraico, near the El Trapial Field, with building maintenance, food and fuel supplies. In 2017, we contributed to building the school’s new library.
In Rincon de los Sauces, we have contributed to the construction of the city’s Paleontological Center, which will serve as a museum and an educational center.
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.
joining our partners
Chevron affiliates also work with the YPF Foundation, which supports programs in education, environment, health care, culture and community development in Añelo. The programs are selected by the foundation, the Neuquén province government and local communities. They have included infrastructure projects such as construction of a solid waste treatment facility, water supply facilities for schools, 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.
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