Exxon focuses primarily on Guyana in Latin America. Credit: Justin on Unsplash.

Energy major Exxon Mobil is conducting a review of its shale oil and gas assets in Argentina, reported Bloomberg.

The US company started the review of its Argentina assets in June.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Exxon is working in six regions of Argentina’s Vaca Muerta formation in Patagonia.

The company’s plans to speed up development at its premier location, known as Bajo del Choique-La Invernada, did not materialise.

Currently, just 15,000 barrels per day of oil and gas are produced from the region’s all shale patches combined.

See Also:

The oil major’s 21% interest in a pipeline that carries shale oil to the Atlantic coast for export is also under review, the report said, citing an Exxon official.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Exxon focuses primarily on Guyana in Latin America.

If Exxon does leave the Argentine shale market, it would be considered a setback for the nation’s plans to fully exploit Vaca Muerta’s resources.

Although the region’s geology is comparable to US basins such as the Permian, drilling has been restricted by protectionist legislation, giving national energy corporations a significant share.

The review does not include Exxon’s three offshore exploration licences in Argentina or its Buenos Aires offices, which employ 3,000 people to support its global operations.

ExxonMobil Argentina Offshore Investments and Qatar Petroleum’s affiliate were awarded three exploration blocks in Argentina’s first offshore bid round in 2019.

The three Argentine exploration blocks, MLO-113, MLO-117, and MLO-118, are situated in the Malvinas basin, some 320km off the coast of Tierra del Fuego.