The Cerro Dragón Oil Field is an oil field located in Chubut Province, Argentina. It was discovered in 1958 and developed by BP. The total proven reserves of the Cerro Dragón oil field are around 1 billion barrels (134 million tonnes), and production is centered on 95,000 barrels per day (15,100 m3/d).[2] The field is part of the Golfo San Jorge Basin, the second-largest hydrocarbon basin in Argentina.[3][4]: 123
| Cerro Dragón Oil Field | |
|---|---|
| Country | Argentina |
| Region | Chubut Province[1] |
| Offshore/onshore | offshore |
| Operator | Pan American Energy |
| Field history | |
| Discovery | 1958 |
| Start of production | 1958 |
| Production | |
| Current production of oil | 95,000 barrels per day (~4.7×106 t/a) |
| Estimated oil in place | 134 million tonnes (~ 200×106 m3 or 1000 million bbl) |
In 2010, BP sold its share of Pan American Energy (PAE) to Bridas Corporation, who now owns the field's concessions.[5] In 2015, PAE obtained a $520 million (USD) loan to expand Cerro Dragón extarction and expand other Argentinian operations.[6] BP and Bridas formed a joint venture in 2017 for Argentinian oil and gas extraction that included Cerro Dragón.[7]
Natural gas and natural-gas condensate are also being extracted from the field. As of March 2026[update], extraction from the Cerro Dragón field is operated by PAE.[8]: 12, 16 Oil extraction rates from Cerro Dragón (and the rest of the Golfo San Jorge Basin) have been declining, leading Pan American to expand shale gas extraction and to treat the basin as an unconventional hydrocarbon source beginning in 2025.[1]
References
edit- 1 2 Penelli, Sebastián D. (15 April 2025). "PAE announces discovery of unconventional gas in Chubut's Cerro Dragón". Buenos Aires Herald. Retrieved 23 May 2026.
- ↑ "Reuters Factbox: BP assets that may end up for sale". petroleumworld.com. 2010. Archived from the original on 2014-10-19. Retrieved 2013-05-28.
- ↑ Iuliano, Alberto; Gómez, Javier E.; Martínez, Christian R.; Alonso, Laura C.; Kazempour, Mahdi; Kiani, Mojtaba; Alzate, Daniela; Singh, Praveen; Jerauld, Gary (30 August 2020). "Thermally Activated Particles Injection for Deep Conformance Control to Improve Oil Recovery in an Argentina Mature Waterflooded Reservoir: Cerro Dragon Field. Design, Field Implementation and Results". SPE Improved Oil Recovery Conference. doi:10.2118/200464-MS. Retrieved 23 May 2026.
- ↑ Sylwan, Caudio A. (2001). "Geology of the Golfo San Jorge Basin, Argentina". Journal of Iberian Geology. 27: 123–157. Retrieved 23 May 2026.
- ↑ Hussain, Emran (30 November 2010). "BP sells off Argentine interest for US$7.06bn". Oil & Gas Middle East. Retrieved 23 May 2026.
- ↑ Torquato, Jason (14 September 2015). "Pan American seals $520m loan". Trade Finance. ISSN 1464-8873.
- ↑ Tunnicliffe, Helen (12 September 2017). "BP and Bridas form JV for Argentinean assets". The Chemical Engineer. Retrieved 23 May 2026.
- ↑ BMI Research (March 2026). Argentina Oil & Gas Report: Forecasts to 2035 (Report). p. 1-82. ISSN 1748-3808.
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