Earlier this month, IACC Texas president Brando Ballerini and his team headed to the Vaca Muerta Formation in Argentina for a series of high-level meetings between potential partners on the ground, here in Texas, and in Italy.
The trip was organized in coordination with the Italy-Argentina Chamber of Commerce.
The IACC Texas team’s mission was intended to foster partnerships and opportunities for oil and gas companies on both sides of the Atlantic. Their trip also included on-site visits to currently productive oil wells and gas fields.
The region is considered a still unexploited area for the production of oil and gas.
According to data shared with the IACC by our partners, Argentina has the potential to produce 2.6 billion gallons of oil, making it the fourth among leading oil-producing countries. And it has the potential to produce 392 billion cubic meters of gas.
The deposits are found in the Vaca Muerta Formation, a geologic formation of Late Jurassic to Early Cretaceous age, located in the Neuquén Basin in northern Patagonia.
In coming years, industry observers estimate that $120 billion dollars will be invested in the region for the production of oil and gas.
On the heels of the success of their recent trip, President Ballerini and his team are already preparing for a subsequent mission to be completed in early 2024.
For more information on opportunities in Vaca Meurta, please contact IACC director Alessia Paolicchi (email).