Alfredo Cornejo promoted Vaca Muerta in the U.S. during the world's largest energy fair.

The Mendoza government participated in the Offshore Technology Conference (OTC), considered the world's most important hydrocarbon event , held in Houston. The province seeks to strengthen its strategic position in the international energy industry.

Within the framework of the fair, the "Mendoza Day" event was held, which was attended by a significant number of business leaders, investors, and energy sector leaders. The presentation was led by Governor Alfredo Cornejo , accompanied by the Minister of Energy and Environment, Jimena Latorre , and the Director of Hydrocarbons, Lucas Erio . The objective was to showcase the progress, policies, and investment opportunities that Mendoza offers in both conventional and unconventional resources.

The provincial strategy focuses on four key areas : the development of Vaca Muerta-Mendoza, the reactivation of conventional fields, tertiary recovery, and the expansion of heavy crude. Cornejo noted that, while the sector in Mendoza never closed, "it has declined in recent decades, due in part to the diversion of investment to Vaca Muerta." However, he affirmed that "Today, the new economic context opens a window of opportunity to revitalize both conventional and unconventional resources."

Regarding Vaca Muerta, the governor highlighted the potential of the northern tongue of the formation, where three drilling holes have already been carried out, "one of them with positive results by YPF." He also announced progress on key infrastructure, such as the bidding process for a new power line, the development of an industrial park in Pata Mora, and the promotion of construction on National Route 40.

Regarding conventional fields, the Andes Plan was highlighted, which grouped 14 areas into three clusters and enabled the signing of new concessions with "more agile operators, committed to concrete investments." Cornejo reported that "In 2024, we managed to reverse more than a decade of declining oil production, with an increase compared to the previous year." He added that "These results encourage us to deepen this model."

Alfredo Cornejo promoted Vaca Muerta in the U.S. during the world's largest energy fair.

Government of Mendoza

Minister Jimena Latorre highlighted Mendoza's strategic geological position , which holds 30% of the Vaca Muerta formation and is crossed by the Cuyana and Neuquina basins. She emphasized that the provincial energy policy "promotes synergy between conventional and unconventional energy," supported by infrastructure such as the Pata Mora logistics hub and a "pro-investment fiscal model, with benefits such as variable royalties based on the price of the barrel."

In addition, Latorre announced a new zero-royalty program for inactive wells , seeking to reactivate more than 3,000 wells with productive potential. He emphasized: "We want the money to be invested in the subsoil, not in shutting down production." He mentioned the participation of new, efficient private operators in tertiary recovery and heavy crude projects. He invited visitors to learn about the "Invest in Mendoza" digital platform, which presents opportunities with tools such as tax incentives, clear rules, and legal certainty. He concluded that "Mendoza's model of open and ongoing bidding creates a favorable ecosystem for the development of new businesses and for the influx of national and international capital."

Lucas Erio, Director of Hydrocarbons, presented recent results, highlighting that the industry currently generates more than 6,000 direct jobs in the province. He reported that Mendoza has 54 current contracts (49 in exploitation and 5 in exploration), with annual investments exceeding $1 billion in CAPEX and OPEX . He highlighted the decrease in production decline , which went from 10% annually (2018-2019) to just 0.7%, with 1% growth in 2024 compared to the previous year.

Regarding Vaca Muerta, Erio mentioned the results of the horizontal wells at CN7A and Paso Bardas, and the $1.4 billion investment commitment by the Quintana-TCB joint venture in Cañadón Amarillo . In conventional fields, he highlighted the tax benefits applied, such as the 7% royalty in the Northern cluster , which has allowed production to be maintained.

Finally, the company reaffirmed its commitment to a continuous bidding model that fosters an active market with more operators, investment, and production. Erio concluded: "Our goal is clear: to attract more players to generate economic development and sustainable employment."