We are pleased to present the Argentine Oil and Gas Reserves Report for 2023, with official data presented last August.
Executive summary:
Total oil reserves grew by +2.5% and gas reserves by +8.5% compared to the end of 2022.
A slowdown is perceived in the incorporation of total oil reserves, having been +17.7 (2021-2020) and +3.1 (2022-2021).
The rate of incorporation of Unconventional oil (NOC) reserves went from +49.7% in (2021-2020) to +11.9% in (2023-2022), which represents a decrease in the rate of incorporation of the same
Conventional oil reserves continue to decrease at a rate of -4.6% annually since the end of 2017 (-23.1% accumulated).
Total gas reserves increased since 2020 at an average of +7.6% annually (+22.7%) at a sustained and increasing rate.
Conventional gas reserves continue to decrease annually, having accumulated a fall of -42.3% since 2017.
Unconventional gas reserves in turn maintain an annual increase rate, having increased by +208% since 2017.
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