Wedoany.com Report on Mar 16th, the Vaca Muerta Institute (Instituto Vaca Muerta, IVM), jointly established by Argentina's national oil company, YPF, and the global energy technology services company SLB (Schlumberger), was officially inaugurated in the province of Neuquén. The institute aims to cultivate specialized technical personnel required for unconventional oil and gas development in Vaca Muerta, the country's core shale region.

This collaboration focuses on enhancing local practical capabilities in areas such as horizontal drilling, geosteering, and multi-stage fracturing. The training curriculum integrates SLB's global technical expertise from shale basins with the specific geological characteristics of Vaca Muerta. It covers the entire process from drilling fluid chemistry to completion design and incorporates international safety and environmental management standards.

Data shows that through recent technological and efficiency improvements, development costs in Vaca Muerta have been significantly optimized. YPF's daily production in the region now exceeds 200,000 barrels. Between 2023 and 2026, drilling speed increased by 66%, fracturing efficiency improved by 61%, and well productivity rose by 40%. The extraction cost has decreased from $6.5 per barrel to $4.2 per barrel, with a breakeven point of approximately $40 per barrel. In the current environment where oil prices exceed $100 per barrel, the operating profit margin is around 60%.

The establishment of this institute is a key initiative by Argentina to build localized, sustainable energy technology capabilities. It aims to reduce dependence on international experts and, through systematic knowledge transfer, provide talent support for the long-term development of the basin and the growth of the local supply chain.