Argentina continues to ramp up its oil and gas production amid high prices and a push from the government to increase output.

Argentina rig counts

November oil production was up 15% year/year to 557,000 b/d, the highest monthly figure in nine years, Energy Secretary Darío Martínez said recently.

The improvement is mainly because of the Vaca Muerta formation in western Argentina, the Energy Secretariat said. Production from unconventional plays jumped 64% in November.

“We are moving in the right direction and that allows us to promote a key sector for the growth of Argentina,” Martínez said.

After a general slump in 2020, oil and gas activity has now exceeded pre-pandemic numbers, Martínez said. “In a world of uncertainty, oil and gas production in Argentina is providing the country...