Oil regulation—Argentina—Q&A guide

The following Energy practice note provides comprehensive and up to date legal information covering:

  • Oil regulation—Argentina—Q&A guide
  • 1. Describe, in general terms, the key commercial aspects of the oil sector in your country.
  • 2. What percentage of your country’s energy needs is covered, directly or indirectly, by oil or gas as opposed to nuclear or non-conventional sources? What percentage of the petroleum product needs of your country is supplied with domestic production?
  • 3. Does your country have an overarching policy regarding oil-related activities or a general energy policy?
  • 4. Is there an official, publicly available register for licences and licensees? Is there a register setting out oilfield ownership or operatorship, etc?
  • 5. Describe the general legal system in your country.
  • 6. Describe the key laws and regulations that make up the principal legal framework regulating oil and gas activities.
  • 7. Are there any legislative provisions that allow for expropriation of a licensee’s interest and, if so, under what conditions?
  • 8. May the government revoke or amend a licensee’s interest?
  • 9. Identify and describe the government regulatory and oversight bodies principally responsible for regulating oil exploration and production activities in your country. What sanctions for breach may be imposed by the regulatory and oversight bodies?
  • More...

Oil regulation—Argentina—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to oil regulation in Argentina published as part of the Lexology Getting the Deal Through series by Law Business Research (published: June 2021).

Authors: Martelli Abogados—Hugo C Martelli; Bernardo Bertelloni

1. Describe, in general terms, the key commercial aspects of the oil sector in your country.

As of 31 December 2019, Argentina has proven oil reserves of 407.420Mm3 and probable oil reserves of 174.453Mm3 (calculated at the end of the fields' useful lives). The key industry players are YPF (state-owned company, 51 per cent), Pan American, Chevron, Shell, Tecpetrol, Wintershall, Exxon, Sinopec, Total, Enap Sipetrol, Pluspetrol and Vista Oil & Gas, among others.

As of 2010, the key players started developing unconventional operations in the Province of Neuquén (where the Vaca Muerta and Los Molles formations are located), forcing changes to the existing legal and regulatory framework (extending the exploration and evaluation terms, increasing their acreage through the acquisition of adjacent areas or by unifying two or more blocks into multi-block evaluation or pilot project commitments, among others).

2. What percentage of your country’s energy needs is covered, directly or indirectly, by oil or gas as opposed to nuclear or non-conventional sources? What percentage of the petroleum product needs of your country is supplied with domestic production?

As of 31 December 2019, the country's energy needs are covered as follows:

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