Vaca Muerta has oil companies thinking twice about ‘Sea Lion’
Experts say that the oil field’s appeal is the main reason three firms have said that they will not be involved in the Malvinas project La entrada Vaca Muerta has oil companies thinking twice about ‘Sea Lion’ se publicó primero en Buenos Aires Herald .
President Javier Milei's tightening of sanctions against foreign companies operating in the Sea Lion exploration project near the Malvinas Islands has caused some international oil companies to reconsider their involvement. Schlumberger, Halliburton, and Baker Hughes have all announced they will not participate in the South Atlantic venture and adhere to current regulations.
The primary reason for their decision is the immense potential of the Vaca Muerta field, which has been the focus of Argentina's most significant investments recently. Daniel Dreizzen, head of Aleph Energy, noted that Argentina's growing geopolitical and energy influence is largely due to Vaca Muerta. He argued that the Sea Lion project, requiring technology, financing, and major international oilfield service companies, could face increased pressure from Argentina's restrictions.
The Vaca Muerta field, already a well-established and low-risk project with a 100-year potential for gas and oil, offers approximately 300 million barrels of reserves and a potential production of 50,000 barrels per day. In contrast, the Sea Lion project remains uncertain, with estimates ranging from 200,000 to over 1.5 million barrels per day for 2028 and 2032, respectively.
Written by urgent.news from Buenos Aires Herald's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
