Argentina Oil and Gas Upstream Market Report and Forecast 2025-2034

Argentina Oil and Gas Upstream Market Outlook

The Argentina oil and gas upstream market size is projected to expand at a CAGR of 2.20% between 2025 and 2034.

Key Takeaways

• The Argentine Government is focusing on increasing natural gas production, creating numerous opportunities for companies in the oil and gas sector.

• In January 2023, YPF SA, an Argentina based energy company and ONGC Videsh, an India based oil and natural gas company signed a Memorandum of Understanding to enhance cooperation in the energy sector, focusing on upstream oil and gas exploration and development.

• The key players continue to invest in digital technologies like artificial intelligence (AI) and the Internet of Things (IoT) to enhance operational efficiency and ensure worker safety.

The Argentina oil and gas upstream market growth is driven by rising exploration and extraction of shale gas reserves, the support provided by the government to boost production in this sector, and the increased demand for energy. A key development that had a major impact on the market was the discovery and subsequent exploitation of the Vaca Muerta shale formation, one of the most significant stockpiles of fossil gas on a global scale. This formation holds vast reserves of shale oil and gas, which has attracted substantial investments from global companies like ExxonMobil, Chevron, and Shell. With the growing government focus on making Argentina an energy exporter, shale gas reserves like the Vaca Muerta with enormous oil and gas deposits have been identified as a key part of the transition.

Furthermore, the oil and gas industry in Argentina is witnessing a rise in technological advancements that are enhancing safety, efficiency, and the extraction of unconventional resources. Techniques like horizontal drilling, 3D seismic imaging, and hydraulic fracturing have transformed the way shale oil and gas are extracted. These innovations not only enhance resource identification accuracy but also streamline drilling processes, leading to cost reductions and improved productivity. The integration of IoT is expected to further boost the market growth by enabling remote monitoring and control of drilling activities, thereby minimising downtime and enhancing operational efficiency.

Additionally, the Argentine government has taken proactive steps to establish a conducive atmosphere for investment and growth in the upstream industry. This involves implementing tax incentives, exemptions, and subsidies to entice both local and international investors. Additionally, initiatives to simplify regulatory procedures and accelerate permit approvals help minimise barriers and expand the Argentina oil and gas upstream market share.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Market Segmentation  

“Argentina Oil and Gas Upstream Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Location

• Onshore

• Offshore

Competitive Landscape

The market players are focusing on increasing exploration and production activities and improving their operations by leveraging advanced technologies like AI, automation, and remote monitoring

• Exxon Mobil Corporation

• BP plc

• Chevron Corporation

• TotalEnergies SE

• Equinor ASA

• Tullow Oil plc

• Techint Group

• Pan American Energy S.L 

• Others

Key Highlights of the Report