ExxonMobil Proceeds with Long-Term Vaca Muerta Shale Oil Development

摘要

ExxonMobil will move forward with a long-term oil development in Argentina's Bajo del Choique-La Invernada block, part of the Vaca Muerta Shale, that is expected to produce up to 55,000 BOE/D within 5 years.The project will consist of 90 wells, a central production facility, and export infrastructure connected to the Oldeval pipeline and refineries.If the expansion is successful and business and market conditions allow, ExxonMobil may invest in a second phase that would produce up to 75,000 BOE/D, the company said.”We are encouraged by the excellent results of our Neuquen pilot project and look forward to increased production through this significant expansion,”said Staale Gjervik, ExxonMobil senior vice president of unconventional.”The reforms implemented by the federal and provincial governments have been critically important to enabling the develop-ment of the Vaca Muerta basin as one of the country's main energy resources.”