Unconventionals
Pluspetrol has become a key player within the Neuquén Basin, focusing on the development of unconventional resources of the Vaca Muerta Formation.
This formation is considered one of the world’s most important unconventional reservoirs, with the development of all fluids (from oil to dry gas). The company participates in assets with an actual area of more than 450,000 acres.
This positions Pluspetrol as one of the players with the largest concession area with unconventional interest within the Neuquén Basin and, to that end, the company has partnered with prestigious local and international companies with a recognized track record in the development of this resource.
La Calera, located in a high potential area, has more than 55,000 acres. This is the company's most remarkable conventional project and represents a key commitment in it's business portfolio. Pluspetrol is the operator and YPF is the strategic partner.
In December 2024, Pluspetrol acquired majority stakes in strategic blocks located in Vaca Muerta, including Bajo del Choique-La Invernada, Los Toldos I Sur, Los Toldos II Oeste, and Pampa de las Yeguas. Bajo del Choique - La Invernada is located in the most prolific shale oil area of Vaca Muerta; it is a world-class asset with wells recognized for their high productivity.
Additionally, it has the areas of Loma Jarillosa Este and Puesto Silva Oeste, entirely operated by Pluspetrol, and Aguada Villanueva and Meseta Buena Esperanza, where Pluspetrol operates with YPF as a partner.
All of Pluspetrol's operations are carried out with a comprehensive view, taking into account the local communities and their characteristics.
Operations
La Calera
La Calera is located in the wet gas window of Vaca Muerta, being one of the richest fields in this area. It has 93 drilled wells, mostly navigating 3 landings and with PADs at 4 landings.
Recently, CPF 1.5 was launched, increasing gas production and quintupling condensate production, taking production from 5 to 14.5 million m³ of gas per day and from 6 to 30 Mbbl/d of condensate. This project involved hiring more than 1,900 direct and indirect collaborators, 6.5 million man-hours worked, 4,750 tons of pipping, and 540 km of cables.
Additionally, as part of a second expansion to be completed in 2027, it will produce 17 million m³ of gas per day and double the liquid production capacity to 60 Mbbl/d of condensate per day.
Operations
Northern Basin
In December 2024, Pluspetrol completed the acquisition of majority stakes in strategic blocks located in Vaca Muerta, including Bajo del Choique-La Invernada, Los Toldos I Sur, Los Toldos II Oeste, and Pampa de las Yeguas , as well as 21.3% of the shares in the Oldelval, pipeline, the main oil evacuation system of the Neuquén Basin.
Bajo del Choique-La Invernada is located in the most prolific shale oil area of Vaca Muerta. Pluspetrol will dedicate 2 rigs to this asset during 2025, adding one more in 2026, and plans to maintain a dedicated fracturing team starting that year.
In line with this, Pluspetrol's strategy is to gradually develop facilities for production treatment. This will increase the annual production of this field from 5,600 barrels of oil per day, reported at the end of 2024, to 10,000 barrels in 2025, and continue with an upward curve to 60,000 barrels per day in 2027.
Regarding gas production, the approximate daily volume in 2025 will be 1 million m³, which will double during 2026 to reach 5.5 million m³ per day in 2027.
OPPORTUNITY
Pluspetrol is preparing for the development of all the potential the Neuquen Area will have in the upcoming years.
Operations
Rio Colorado Region
In 2009, Pluspetrol acquired assets that include concessions in Jagüel Casa de Piedra, CNQ-7 Gobernador Ayala, CNQ-7/A and Gobernador Ayala III, located in the provinces of Mendoza and La Pampa. These assets represent Pluspetrol’s main conventional oil field in Argentina.
The main challenge in this region is heavy oil production and is under an extensive secondary recovery project.
Since its incorporation, the operation has continued to grow in all aspects. Extensive development drilling campaigns and advanced exploration are being carried out so as to incorporate new reserves thus extending the boundaries of each field, which challenges us to maintain current production volumes by optimizing processes.
Tertiary recovery pilots (polymers) have been carried out to improve the volumes produced.
The El Corcobo field stretches along the left bank of Rio Colorado, within the jurisdiction of the provinces of Mendoza and La Pampa. The Inter-Jurisdictional Committee for Rio Colorado (COIRCO) is also important here, functioning as a Basin Commission and playing a key role in the surveillance and protection of this resource.
Social investment
Social Responsibility
The main objective of the Social Responsibility area of Argentina's business unit is to promote local development in the area of influence of our operations, thus complementing the contribution generated by business development. Pluspetrol understands local development as the mobilization of the land's resources around a common and comprehensive project that includes the entire population.
To that end, Pluspetrol focuses on three pillars: Education, Production and Institutional Strengthening through which the company promote the development of initiatives and projects prioritizing management together with local stakeholders are promoted, in order to enhance the impact of it's actions and achieve sustainability of initiatives.
Within the framework of Social Responsibility Strategy, Pluspetrol annually define plans for each asset to adapt our initiatives to our characteristics of each area of influence.