Magallanes (Santa Cruz)

Location

The Magallanes (Santa Cruz) Oil and Gas Field is located in the province of Santa Cruz, Argentina. The field is part of the Magallanes complex and is situated within the Austral Basin.

Coordinates

The approximate coordinates for the field are -52.5623, -68.2474 (WGS 84).

Operators and Owners

The field is operated by ENAP Sipetrol Argentina SA. The ownership is divided equally between YPF (50.0%) and Enap Sipetrol Argentina S.A. (50.0%).

Project Details

Discovery and Production

• The exact discovery year and the Final Investment Decision (FID) year are not specified in the available data.
• Production at the Magallanes (Santa Cruz) Oil and Gas Field has been ongoing, with specific start dates not provided.

Reserves

As of the latest available data:

• Gas Reserves:
  • 2P (Proven and Probable) reserves were 5,109 million m³ in 2020 and 3,334 million m³ in 2022.
• Oil Reserves:
  • 2P reserves were 7.27 million barrels in 2020 and 4.53 million barrels in 2022.

Production

• Gas Production:
  • 778.08 million m³/year in 2020
  • 614.31 million m³/year in 2021
  • 470.02 million m³/year in 2022.
• Oil Production:
  • 1.23 million barrels/year in 2020
  • 1.02 million barrels/year in 2021
  • 0.76 million barrels/year in 2022.

Infrastructure and Logistics

The field is part of the broader Magallanes complex, which likely benefits from existing infrastructure in the region. However, specific details on the infrastructure and logistics for this particular field are not provided in the available sources.

Regulatory and Governance Framework

The oil and gas sector in Argentina, including the Magallanes (Santa Cruz) field, is governed by the Hydrocarbons Law and managed by the Energy Secretariat (Secretaría de Energía) under the Ministry of Infrastructure. The National Constitution stipulates that provinces have the original ownership of the resources, regulated by the "Short Law" which provides provinces with jurisdiction over hydrocarbon fields. Licenses for fields within provincial territories are issued by the provincial governments, while those for fields more than 12 nautical miles offshore are issued by the national government.

Transparency and Accountability

Argentina is a member of the Extractive Industries Transparency Initiative (EITI), which aims to enhance transparency and accountability in the extractive sector. The province of Santa Cruz, where the Magallanes field is located, is one of the five provinces that have joined the EITI implementation. This initiative includes systematic disclosure of information on licenses, state-owned companies, production, and revenue collection.

Additional Context

The Magallanes (Santa Cruz) Oil and Gas Field operates within a region that is significant for Argentina's energy sector. Argentina hosts substantial reserves of unconventional oil and gas, particularly in the Vaca Muerta formation, although the Magallanes field itself is part of a different geological setting.

In summary, the Magallanes (Santa Cruz) Oil and Gas Field is an important asset for Argentina's energy production, operated jointly by YPF and Enap Sipetrol Argentina S.A., with significant reserves and ongoing production activities. The field is governed by a clear regulatory framework and benefits from transparency initiatives such as the EITI.