YPF Achieves Milestone with Shale Oil Boom

Argentina's state oil producer YPF has hit the milestone of producing 200,000 barrels of shale oil daily, marking an 82% increase in under two years. This growth, thanks to new data technology, AI, and predictive analytics, aligns with a strategic shift under CEO Horacio Marin.

Argentina's state oil company, YPF, announced that it has reached a daily production rate of 200,000 barrels of shale oil. This achievement marks an 82% increase in less than two years.

The significant growth in production from the expansive Vaca Muerta field is largely attributed to innovative operational changes. YPF credits the use of data technology, artificial intelligence, and predictive analytics tools for this rapid advancement.

Horacio Marin, who assumed the position of CEO in December 2023, noted that this milestone is not just a productive feat but also demonstrates a transformative shift in their operational strategy.

(With inputs from agencies.)