ExxonMobil, the maker of Mobil Pegasus 1, is taking steps towards the development of assets it holds in the Vaca Muerta area.
This is with a view to accomplishing sustainable growth in production from the country’s largest sale play, according to Daniel De Nigris, who is the CEO of ExxonMobil Argentina.
Speaking at the Argentina Oil & Gas Expo, De Nigris said:
“We are doing the evaluation of the assets. We are evaluating the options for potential developments.”
ExxonMobil is currently working with XTO Energy to meet its aims. XTO are a subsidiary that is experienced in drilling natural gas and unconventional oil. ExxonMobil’s unconventional assets in the country were shifted to XTO Energy at the beginning of the year.
Speaking at the Expo in Buenos Aires, De Nigris admitted that the company did not have a definitive next step for taking the pilot production to the next level, or developing its assets to be one of the largest shale producers outside of North America. However, he did say that the company would be looking closely at its assets and infrastructure in order to determine its future potential in the production of sustainable shale.
ExxonMobile is taking time on this project, with De Nigris stating:
“I believe that more than working to have the development of Vaca Muerta today, we have to work so that the development is sustainable for 40 years.”
He also mentioned that Mobil would be looking for ways to make the process of shale extraction more productive and efficient so that completion costs could be brought down to a level deemed economically viable.
