A Game Changer for Latin America? Shale Experts Analyse the Future of Unconventionals in Latin America

Shale experts recently gathered in Buenos Aires to examine the potential impact of shale oil and gas resources in the Latin America region and globally. The CWC Summit was hosted in partnership with YPF and Y-TEC, and delegations in attendance included Chevron, Shell, Total, Schlumberger, Emerson and Halliburton, amongst others.

The welcoming address was delivered by Gonzalo Lopez Nardone, head of institutional relations for YPF and the opening address was given by Mel Ydreos, executive director, Energy Vintage and vice chairman coordination committee from the International Gas Union (IGU). Ydreos highlighted the importance of enhanced collaboration; governments, companies, organisations working together to achieve transparency and create a positive atmosphere for the development of unconventional resources.

Honing into shale opportunities in Argentina, Colombia, Mexico and Brazil, the Summit analysed next steps for the region’s shale development from both a strategic and technological standpoint.

At the summit, YPF launched Y-TEC, a new technical company created to contribute towards the sustainable growth of domestic energy industry and PEMEX confirmed negotiations with YPF to develop the shale resources in Vaca Muerta, the supergiant oil field located in Argentina.

The two national oil companies announced their discussions for a potential partnership during the 2 days of the summit “There have been informal conversations between Pemex director and Miguel Galuccio, YPF president.

There haven’t been any definite proposals to the Board of PEMEX, but on a personal level, I think this partnership could be interesting”, said Fluvio Ruíz de Alarcon, Advisor & Board Member from PEMEX.
Mario Gabriel Budebo, senior advisor for PEMEX announced that “for 2030 the global energy demand will grow 36% and the shale gas production will triplicate; the shale oil will increase 6 times”.
“In Mexico, we are only analysing what is the potential of the reserves”, said Fluvio Ruiz Alarcón, Advisor & Board Member, PEMEX.

Another highlight at the summit was the presentation from Alex Valdéz, director of hydrocarbons, Government of Neuquen & OFEPHI representative about future projects and next steps for the leading shale plays, stating that the “favourite spot” is Vaca Muerta: “According to research, to be able to determine the behaviour of our Vaca Muerta, we will have to invest and have a landscape of 400 wells in order to see the behaviour in the entire field. We have a great potential”.

Eric Eyberg, from Wood Mackenzie spoke on how to develop the non-conventional gas and oil and said: “Argentina has the infrastructure, capacity and security and a developed service industry”.

Edward Tovar, director of unconventionals, Ecopetrol spoke about the recent changes in the Colombian unconventional market that consists of new benefit system, financial incentives, and longer terms for the exploration period, which has been extended from six to nine years. Tovar also mentioned that shale is a major factor in increasing the hydrocarbons production in Colombia at the main basin Valle Medio de Magdalena.

The Summit brought together strategic and technical presentations from shale leaders across the Americas, dynamic roundtable sessions, interactive workshops and outstanding pan-regional senior representation, making it the established meeting place for strategic and technical shale decision makers.

The World Shale Oil & Gas Latin America Summit will return to Buenos Aires in September 2014.

For more information about the summit please visit http://latam.world-shale.com/en/ or contact Sofia Barros Marketing Executive, Tel: +44 20 7978 0028, Fax: +44 20 7978 0099, Email: sbarros@thecwcgroup.com

The CWC Group are renowned world experts in oil, gas, power, telecommunications, and infrastructure and investment sectors, particularly in emerging markets. We have a wealth of knowledge, offering top-level strategic events around the world.
We work closely with many governments, NOCs and international corporations to highlight the key issues and challenges facing the global energy industry. CWC operates globally and over the past 13 years, our gatherings have become widely acknowledged within the industry for their quality, prestigious level of government officials and senior corporate delegation.
For more information, please visit: Website: http://latam.world-shale.com/en/
Or contact: Sofia Barros, Marketing Executive, Tel: +44 20 7978 0028, Fax: +44 20 7978 0099, Email: sbarros@thecwcgroup.com

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This release was published on openPR.