LATIN AMERICA

Out of the 9 countries, the highest activity is recorded in Argentina, with 118 blocks producing 742,742 Boe/day and 43 exploration blocks. The annual total average investment in recent years in Argentina amounts to 720 million Euros, 650 million in development activities and 70 million in exploration efforts. Repsol YPF�s largest net reserves volumes are located in Argentina too, which total 3.17 billion barrels of oil equivalent, broken down into 1.341 billion barrels of crude and 310.747 billion cubic meters of gas.

Argentina is the third largest hydrocarbon producing country in Latin America, only second to Mexico and Venezuela, and is the fourth largest country for its reserves, after the before mentioned countries and Brazil.   

Argentina has 24 known sedimentary basins: 11 fully onshore basins, 6 combined onshore / offshore basins and 7 entirely offshore basins.

Commercial production is carried out in five basins. Repsol YPF has a countrywide presence, with a predominant activity as operator in the highest producing basins: Neuquen basin, Cuyana basin and Golfo San Jorge basin. It holds interests in many joint ventures in the remaining two producing basins: the Austral and the Northwest basins.

The presence of Repsol YPF in Argentina is important not only by the volume of operations and investment but also by its quota in reserves and production, since on the total of the country Repsol YPF it approximately has 48% of the petroleum reserves, 44% of those of natural gas and participates in a 56% in the production of crude and a 47% in the one of natural gas.

Neuquina is a highly producing basin both of oil and natural gas. The Loma La Lata gas field is located in this basin, the biggest field in the country, with proved reserves of over 155 billion cubic meters of gas.