The Global Argentina Oil and Gas Upstream Market Research Report 2020-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The market for oil and gas upstream in Argentina is expected to grow at a CAGR of more than 1.27% during the forecast period of 2020 to 2025
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Key Market Players: Equinor ASA, Chevron Argentina S.R.L., ExxonMobil Exploration Argentina S.R.L, YPF S.A., and Tullow Oil plc
Key Market Trends
Onshore Segment to Dominate the Market
– Argentina held an estimated 0.3 trillion cubic meters of proved natural gas reserves at the beginning of 2018. Most of the country’s proved gas reserves are held onshore. There has been a general increase in the production of oil and gas from these onshore fields.
– Vaca Muerta is one of the world’s biggest onshore shale plays, even though, in 2019, less than 10% of the acreage is in production, with the production of natural gas from Vaca Muerta surpassing 1.0 Bcfd in December 2018. In 2020, Equinor and Shell increased their shares in the shale play to a combined 49%, which was previously held by Schlumberger.
– There has been an increase in natural gas production by 6.1%, increasing to 33.9 million tons of oil equivalent (Mtoe) in 2018 from 31.9 Mtoe in 2017. The natural gas consumption in the country increased, by 0.8%, to 41.9 million tonnes, in 2018 from 41.5 million tonnes in 2017. An increase in the consumption and production of natural gas is expected to aid the growth of the market.
– Hence, the onshore segment is expected to witness growth owing to investments being made in the onshore shale and conventional oil and gas fields of the country.
Increasing Oil and Gas Production to Drive the Market
– There has been an increase in oil production, by 1.1%, to 27.6 million tons (MT) in 2018 from 27.3 MT in 2017. The country’s oil consumption decreased by 6.3%, to 29.8 million tonnes, in 2018 from 31.8 million tonnes in 2017. Oil production is expected to increase further as more exploration and production initiatives are being considered and taken up by the market players.
– In 2019, the first offshore licensing round took place in Argentina after more than 20 years. Large multinational corporations took part in the bidding process, with Equinor acquiring seven blocks in the process. Such initiatives are expected to increase the production of oil and gas from the offshore segment.
– Even though the traditional fields have been reducing their production of hydrocarbons, the growth in Argentina’s shale and tight gas production has partially offset declines in its natural gas production from traditional fields. Shale and tight gas production are expected to further increase in the forecast period.
– The Argentina oil and gas industry is expected to grow slightly in the forecast period due to the increase in oil and gas production and rising investment in the oil and gas sector of the country.
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The market factors explained in the report:
Market Overview: It includes Argentina Oil and Gas Upstream Market study scope, top key players, segments, market analysis by application, market analysis by type, and other chapters that give an overview of the research study.
Executive Summary: The Argentina Oil and Gas Upstream Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Regional Study: All of the regions and countries analyzed in the Argentina Oil and Gas Upstream Market report is studied on the basis of market size by application, the market size by product, key players, and market forecast.
Key Players: This part of the Argentina Oil and Gas Upstream Market report discusses expansion plans of companies, key mergers and acquisitions, funding and investment analysis, company establishment dates, revenues of manufacturers, and their areas served and manufacturing bases.
Market Forecast: Here, the report offers a complete forecast of the global Argentina Oil and Gas Upstream Market by product, application, and region. It also offers global sales and revenue forecasts for all years of the forecast period.
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply-chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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