Magallanes (Estado Nacional)

Location

The field is situated in the Estado Nacional area of Argentina, specifically within the Austral Basin. The approximate coordinates of the field are -52.5623, -68.2474.

Operators and Owners

The Magallanes (Estado Nacional) Oil and Gas Field is operated by Enap Sipetrol Argentina SA. The field is jointly owned by YPF (50%) and Enap Sipetrol Argentina S.A. (50%), with the parent companies being YPF and ENAP, each holding a 50% stake.

Project Details

• Status: The field is currently operating.
• Concession/Block: The field is located in the Magallanes block.
• Basin: Austral Basin.

Production and Reserves

• Production:
  • Gas production: 252 million cubic meters (m³) in 2020.
  • Oil production: 0.35 million barrels (bbl) in 2020.
• Reserves:
  • Oil reserves: 3.4 million bbl (2P reserves) as of 2020.
  • Gas reserves: 3,577 million m³ (2P reserves) as of 2020.

Field Characteristics

• The Magallanes field is a conventional gas field, with significant gas production. It is noted that the field has recovered 90.76% of its total recoverable gas reserves, with peak production achieved in 2019. Production is expected to continue until the field reaches its economic limit in 2028.

Economic and National Impact

• The field currently accounts for approximately 1% of Argentina’s daily oil and gas output.

Operational Details

• The field is located in shallow water, with a water depth of approximately 285 feet (about 87 meters).

In summary, the Magallanes (Estado Nacional) Oil and Gas Field is an important operational asset in Argentina's oil and gas sector, jointly managed by YPF and Enap Sipetrol Argentina SA, with a significant focus on gas production and reserves within the Austral Basin.