Experts call for urgent action to develop Vaca Muerta: "We have to do it, or the world won't even know we didn't do it."

With a focus on the challenge posed by Vaca Muerta , the new meeting in the series "Technological Vanguard, the Future of Development," titled "The Energy of the Future," kicked off this Monday. In the first panel of the morning, speakers emphasized the importance of not missing out on the opportunity represented by the shale reserves hidden within the rocks of Neuquén's soil.

“Vaca Muerta can be considered a state policy. Because no political party said Vaca Muerta shouldn't be developed. Everyone agrees that it must be developed ,” began Ernesto López Anadón , president of the Argentine Institute of Oil and Gas.

“Today, nearly 160,000 barrels of oil are being exported. The trade balance has increased by $6 billion. Vaca Muerta contributes to the economy and to employment. It's a huge opportunity for Argentina. We have the entire value chain here; very few countries do. The reserves won't run out tomorrow,” he stated, emphasizing the importance of developing shale oil and gas fields.

But at the same time he stressed that development must be carried out quickly , so that it is not just another frustrated opportunity.

"It's a huge opportunity because it's going to generate a ton of benefits for Argentina. But it's not for the rest of the world. The rest of the world can live perfectly well without Vaca Muerta. And that's what we have to understand. Either we do it, or the world won't even notice that we didn't do it ," said López Anadón.

And in line with what was stated by the head of the IAPG, Mariana Schoua , executive president of Aconcagua Energía Generación, highlighted the urgency of the development.

"I think it's important to provide a sense of urgency . Because we won't run out of resources, but we can close the window where the world needs them. We all have to work together, across all sectors, so that we stop being an opportunity, stop being a potential, and become the reality we all desire," Schoua summarized.

The CEO also explained that efforts must be aligned to avoid wasting the window of opportunity, and in this regard, she pointed to both the private sector and the state administration.

" I would emphasize public-private partnerships, and those between the nation and the province . Because for all investments in general, but particularly for intensive and long-term gas and oil investments, the planets need to align. What we can do is ensure that this partnership and these consensuses allow us to develop resources," Schoua said.

"The nation and the provinces each have their own role, which is often unclear and misaligned. And that leads to delays and higher costs. I would focus on that, especially in a transition scenario like the one we have now," he added.

"The Energy of the Future" is the second meeting in the series "Technological Vanguard, the Future of Development," a series of debates that address the salient aspects of the most innovative technologies and how they can accelerate productivity, competitiveness, and sustainability—the foundations of development.

The series began this year with a dialogue on the industry, held in July at the same venue, and will continue with other meetings on the knowledge economy, mining, and the agricultural sector. It is sponsored by Pan American Energy, Grupo Techint, and Telecom.

On Monday's first panel, titled "Conditions, Challenges, and Opportunities," the speakers were Ernesto López Anadón and Mariana Schoua.

López Anadón has been president of the Argentine Institute of Oil and Gas since 2008. An industrial and petroleum engineer who graduated from the University of Buenos Aires, he has a long career in energy sector companies and a stint as Director of Marketing and Gas Business Development at YPF.

Schoua, for her part, has been the executive president of Aconcagua Energía Generación since December 2023 and, just under two months ago, was elected president of the American Chamber of Commerce in Argentina (AmCham), becoming the first woman to preside over that chamber in more than a century of history.