Académique Documents
Professionnel Documents
Culture Documents
Summary
Brief overview of Hydrocarbon history in Argentina A gas dependent country The role of imports Need to underpin growth Response to new market signals Unconventional fields: Neuqun's potential
Argentina needs to increase its internal energy supply, especially gas and oil, which concentrate 90% of the energy matrix.
A gas-dependant country
Gas production por cuenca (en Produccin de gas by basin (Mm3) millones de m3)
Cuenca Ene/oct 2010 Ene/oct 2009 Var. % -5,5 1,5 7,7 -1,1 -12,2 -3,0 Fuente: IAPG
Argentina is one of the few countries where natural gas has a significant share in many consumption segments: residential, commercial, industrial, power generation, GNC and transportation.
Millones m3
Gas proved reserves and production (Mm3) Reservas probadas de gas y horizonte de produccin
800.000 700.000 600.000 500.000 400.000 300.000 200.000 100.000
25
10 5 0
'95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 Aos Volumen de reservas Source: Secretariat of Energy
Aos
20
15
A gas-dependant country
Produccinproduction by basin (Km3) miles de m3) Oil de petrleo por cuenca (en
Cuenca Neuquina San Jorge Austral Cuyana Noroeste Total Ene/oct 2010 11.276 12.198 1.436 1.412 544 26.866 Ene/oct 2009 11.652 11.904 1.498 1.438 611 27.103 Var. % -3,2 2,5 -4,1 -1,8 -10,9 -0,9 Fuente: IAPG
Reservas reserves and production produccin Oil provedde petrleo y horizonte deforecast (Km3)
600.000 500.000 Miles m3 400.000 300.000 200.000 100.000 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 Aos Volum en de reservas Fuente: Secretara de Energa 12 10 Aos 8 6 4 2
Precio Gas Price comparison Domestic desde Bolivia Natural del gas natural local Vs. importadovs Bolivian import
2Tr
3Tr
The growing supplydemand imbalance has forced the increase in imports of liquid fuels (fuel oil & gas oil), natural gas, LNG, LPG and power.
4Tr
3Tr 4Tr
1Tr 2Tr 3Tr 4Tr 1Tr 2Tr 3Tr /10 /09 Promedio cuencas argentinas
4Tr
Importacionesderivatives imports derivados (9 meses 2009 Vs 2010) HC and de hidrocarburos y (9 months 2009 vs 2010) Combustible Nafta elaborada Gasoil + cortes Fueloil Gas natural Unidades miles m3 miles m3 miles ton. milln m3. Ene/set 2010 Ene/set 2009 Var. % 109,8 1638,7 820,0 2.772,8 42,0 374,1 700,0 1.125,1 161,7 338,1 17,1 146,4
Fuente: IAPG
Source: IAPG
Argentina gas imports de gas (Agosto/noviembre 2010) Argentina: importaciones(August/November 2010) MM m3/d
12
Millones de m3/da 10 8 6
5,1 5,1
Agos.
4,9 5,5
Set.
2,3 5,1
Oct.
5,9 4,7
Nov.
4
2
GNL
Bolivia
Argentina gas supply cuts for large consumers MM m3/d Millones de m3/da Agosto/10 Julio/10 Mayo-junio/10 Set/09 Agosto/09 Julio/09 Mayo-junio/09
0 2 4 6 8 10. 12
Source: Enargas
During 2011, shipments of imported LNG will go from 20 in 2010 to over 45, as the new YPF regasification facility is commissioned. Government and private analysts have estimated around 330 million dollars per month ($ 3.4 billion in the year) will be spent importing gas, fuel oil and gas oil
10
15
* transportation a GBA and/or de regasificacin * IncludesIncluye transporteto GBA y/o costo re-gas cost * Paridad 80 US$/bbl ** Import*parity for de importacin para 80 US$ el barril.
6 5 4 4 2 1 0
1994 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1.1 1.1 1.1 1.2 0.4 0.5 0.7 1 1.8 2.1 2.8 2.9 3.6 4.5 3.2 3.2 3.9 4.8
Price
The increase in activity observed lately is a response to price signals and shows trust in the future
Equipos
Drilling equipment and activity (Aug 2009/Nov 2010) Cantidad de equipos de perforacin en actividad (ago.2009/nov.2010)
100 90 80 70 60 50 40 30 20 10 0
Ago. Set. Oct. Nov. Dic. Ene. Feb. Mar. Abr. May.Jun. Jul. Ago.Set. Oct. Nov. /09 /10 Source: Weatherford
Fuente: Weatherford
Gas prices for consumer tranches Precio de las distintas franjas de consumo de gas
Industrial by producers Industrial by utilities
Average Price
Although the specific gas drilling activity showed caution in 2010 (less wells than in 2009), a substantial reactivation is expected as prices tied to Gas Plus and unconventional fields are strengthened.
(Investment commitments for the 3 rounds of New Horizons Plan)
Drilled gasferos perforados (Ene/set 2009 vs.2010) Pozos gas wells (Jan/Sept 2009 vs 2010)
18 16 14 12 10 8 6 4 2 0 Total Austral
Capsa
YPF SA
P.A.E
Apache
Otros
2010
2009
Mendoza The Province of Neuqun continues being the main gas producer in the country (48%) and second oil producer (22%), due to a complete infrastructure in support of production, as well as main and regional gas pipelines, power transmission lines, etc. La Pampa
Los Molles: Shale gas and tight gas field. Covers an area of 18.000 Km2. Average thickness of 150200 m. at 1.500-3.500 m. depth. MENDOZA Precuyo: Proven Gas and oil LA PAMPA generation at China Muerta and Loma Negra depocenters, with a surface of 2.050 Km2. Average thickness of 150-290 m. at 3.500-4.000 m. depth. Vaca Muerta: The most extensive formation in the basin, covering a surface of 25,000 Km2. Average thickness over 200 m of shales,3-5% TOC.
NEUQ UN
Barnett
Siliceous Shale
4 to 5% 150 to 250 1.3 to 2.1 9.6 to 10.6 4 to 8% 50 to 200 3 to 7 100 to 150 3 to 4.5
Marcellus
Siliceous Shale 4 to 7% 75 to 150 1.3 to 2.4 11.6 to 13.5 7 to 9% 100 to 200 4 to 10 75 to 125 3 to 6
Woodford
Chert 4 to 8% 75 to 150 1.2 to 2.8 9.6 to 10.6 5 to 6% 40 to 70 2 to 6 75 to 150 2.5 to 5
Vaca Muerta
Siliceous Marl 3 to 5% 300 to 1300 1.4 to 1.8 9.4 to 17.3 7 to 12% 50 to 200 2 to 12 300 to 800 (BBN) 8 to 20
Horn River
Chert 3 to 6% 125 to 450 1.6 to 2.7 10.6 to 13.5 4 to 10% 100 to 1000 5 to 8 175 to 250 4 to 10
Eagleford
Calcareus Shale 4 to 8% 120 to 280 0.7 to 1.8 9.6 to 14.5 4 to 10% 100 to 1500 2 to 17 80 to 250 2 to 6
Pressure Gradient (ppg) 13.5 to 17.3 Porosity (%) Permeability (nD) 7 to 9% 100 to 500
Well IP (mcfd peak month) 8 to 25 GIP*/Sq Mi (GCF) EUR**/Well (GCF) 150 to 250 8 to 12
The geological features of the Neuqun Basin are similar to the shale gas fields in North America. In particular, the Vaca Muerta (Neuqun) is most similar to the Eagleford and Haynesville formations.
Its goal is to participate by itself or associated with third parties in the exploration and development of hydrocarbon fields within and outside the Province of Neuqun
$/km2
3rd Round year 2010) 1st and 2nd Round (year 2009) Transferred to Hidenesa
TOTAL
16.567
(18 blocks)
13.306 33.700
Special services
Special testing lab: tests not yet carried out in Latin America. Shale and tight gas data processing. Reservoir simulations. Geomechanical services Hydraulic fracture simulation and modeling.
Data Processing
Main shale gas fields of Argentina and Latin America. It will enable to compare formations, improve extraction capacity and reduce production costs.
Conclusions
A strategic approach based on confidence and cooperation
The Province of Neuquen produces hydrocarbons since 1918. Given the potential of Neuquens unconventional fields, the Province can become the largest producer of most of the energy the country needs for the next decades. However, it is essential that governments create and maintain conditions for investment; and that companies invest on a long term basis. That is, there is a need for a joint strategic approach, based on mutual cooperation and trust.
Conclusions
The success of the previous bid rounds launched by G&P within the private sector and your presence here today show that we are on the right track.
THANK YOU