On April 24 and 25, Arpel participated in the IX Strategic Seminar organized in Buenos Aires by SPE Argentina, with the slogan: “The Relevance of Oil & Gas in the Development of Argentina.”

The event, where Arpel was represented by its Upstream Manager Pablo Amoedo, focused on five relevant aspects: the huge potential of Vaca Muerta and the challenge to accelerate oil and gas production; the importance of exploration and the current offshore developments in Argentina; the revitalization of conventional mature fields; public policies and infrastructure required to promote investment in the hydrocarbons area; and the critical role hydrocarbons play in the energy transition.

In the offshore panel, business leaders explained the current situation of the Argerich X-1 project and anticipated that the North Argentine Basin CAN-100 block drilling stage is starting in May 2024, and will be undertaken by the consortium formed by YPF, Equinor and Shell.

They emphasized that all the potential production from the offshore would be destined to the export market. The exploration surveys performed in Argerich so far have shown an estimated potential production of 250,000 barrels per day for this first project. The first barrel is expected to be obtained in around 10 years.

In the panel on unconventional reservoirs, the executives agreed that in order to make Vaca Muerta's take-off viable and contribute to the development of the country's economy, there are three key factors related to productivity, costs and human resources.

Rubén Etcheverry, Minister of Infrastructure of the Province of Neuquén, spoke about the energy agenda focused on four key aspects: Vaca Muerta Net Zero, export-related infrastructure, the Large Investment Incentive Regime and project funding.

In turn, YPF’s CEO and President Horacio Marín presented the “4X4” plan to obtain a fourfold increase in the Company’s value over the next four years based on 4 pillars: focus management on the most profitable: Vaca Muerta; divestment of conventional assets (sale of mature areas) and review of YPF's participation in other companies; develop a more efficient operation in downstream and upstream, and acceleration of LNG projects.