Argentina | Oil and Gas Outlook. 2026

Summary

Argentina is in a new phase of its energy development, with record oil and gas production driven by unconventional resources from Vaca Muerta. However, the main challenge is to overcome infrastructure bottlenecks to capitalize on its export potential.

Key points

• Key points:
• Oil production reached a record 860,000 barrels per day in 2025 (+13.1% year-on-year), with unconventional crude already accounting for 70% of the national total.
• Argentina has one of the largest energy reserves, with Vaca Muerta's recoverable gas resources estimated at 255 TCF. The province of Neuquén concentrates 77% of the country's gas reserves and 60% of its oil reserves.
• To boost production, an investment in infrastructure of between USD 15 and 20 billion is needed. The Regime for Incentive to Large Investments (RIGI) has already approved 5 projects for USD 12 billion in the sector.
• The country achieved a record energy trade surplus of USD 7.9 billion in 2025, with a projection of USD 13.6 billion for 2026. The oil and gas complex already accounts for 12.5% of total exports.

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