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Argentina-Energy-Plan .Pdf Provide Argentinians with abundant, clean and low cost energy, and transform our country in a World Class Energy Supplier through the massive and responsible development of unconventional resources and through the fast incorporation of renewables, reaching competitive costs for the development of the small and medium-sized enterprises (SMEs), the industries and the transport. 2 3 MMtoe TWh 4 Power distribution (data for AMBA) Renewable generation Thermal power generation Upstream O&G Transport and distribution of Oil and Gas Total private investment 5 Power transmission and distribution Renewable energy Thermal power generation Total public Other O&G Transport and distribution of natural gas Nuclear 6 EUR / Well 631 kbbl/well Landing points/area 2.5/km2 (2.5/247 acres) MMbbl/Area 1.6 MMbbl/km2 (6.5 kbbl/acre) Unconventional Production 1,143 kbbl/day Plateau 2030 Reservoir to exploite in 25 years 10,434 MMbbl Exploited Area 6,614 km2 / 1.6 MM acres (30%) EUR / Well 12.9 BCF/well Landing points/area 2.5/km2 (2.5/247 acres) BCF/area 32.25 BCF/km2 (0.13 BCF/acre) Unconventional Production 14.1 BCF/day Plateau 2030 Reservoir to exploit in 25 years 128.6 TCF Exploited Area 3,990 km2 / 987,643 acres (31%) 7 • Acreage in Vaca Muerta per company 8 31 Pilots 1 Loma Campana YPF Development 2 El Orejano YPF 3 Aguada Pichana Este Total 4 Fortín de Piedra Tecpetrol 5 La Amarga Chica YPF 6 Bandurria Sur YPF 7 Cruz de Lorena - Sierras Blancas Shell 8 La Escalonada Total 9 Rincon de la Ceniza Total 10 Bajo del Choique - La Invernada ExxonMobil 11 Bandurria Centro PAE 12 Pampa de las Yeguas I ExxonMobil 13 Rincon del Mangrullo YPF 14 Aguada de la Arena YPF 15 La Ribera I YPF 16 La Ribera II YPF 17 Aguada Federal Wintershall 18 Bandurria Norte Wintershall 29 24 8 25 28 10 19 Aguada Pichana Oeste - Aguada de Castro PAE 20 Bajada de Anelo Shell 22 9 21 San Roque Total 12 2 21 22 Los Toldos I Sur ExxonMobil 17 18 23 Bajada de Palo Vista Oil & Gas 11 23 14 20 6 24 Bajo del Toro YPF 5 7 19 3 30 25 Cerro Arena YPF 15 1 26 Las Tacanas YPF 4 26 13 16 4 27 Las Tacanas Norte Pampa 27 28 Cerro Las Minas YPF 29 Salinas del Huitrin YPF 30 La Calera Pluspetrol 31 Puesto Rojas Phoenix 10 13 ~ 14 Relentless progress through the years but still below potential Vaca Muerta potential well for a 2,000 m lateral (solid dark line): • Targeted landing zone • Tighter cluster spacing • More clusters per stage 16 17 Notes: *Permian including original entry cost at US$15,000/acre | * Vaca Muerta entry costs based on recent YPF and GyP transactions Source: Wood Mackenzie Midland Permian average 2016-2018 GyP average Source: Wood Mackenzie M&A tool 21 22 ✓ ✓ ✓ ✓ ✓ ✓ ✓ : ✓ ✓ ✓ ✓ 23 27 28 29 30 31 31 1,600 1,500 250 1,500 NGLs 1,400 Unconventional 1,320 1,300 P1ND + P2 + P3 200 1,200 P1 Developed 1,100 1,012 1,000 870 150 900 800 750 700 648 650 100 600 560 488 500 400 300 50 200 100 - - 32 450 16 Chile: 10 (2019); 30 (2022). Brasil: 3 (2019); 9 (2022); 30 (2025). Associated gas (shale) Mundo (GNL): 40 (2023); 80 (2024); 120 (2025). 13.9 14.0 14.1 400 13.5 14 Unconventional 13.1 12.2 350 P1ND + P2 + P3 12 P1 Developed 10.5 300 10 250 8.4 8 200 6.7 6.3 5.8 5.3 6 150 4.9 4.7 4.7 4.6 4.4 4.4 4.3 4.3 4.0 4.0 4.2 4 100 50 2 - 0 33 35 2,000 2,500 1,000 1,500 500 0 2018 292 216 84 258 Gas Natural Unconventional Oil Unconventional GasConventional Natural Conventional Oil 2019 310 230 307 342 2020 328 243 452 322 2021 346 256 569 296 2022 364 270 701 284 2023 382 283 828 450 2024 400 296 903 596 2025 418 310 883 639 2026 436 323 843 589 2027 454 337 816 517 2028 472 350 806 486 2029 490 363 791 434 2030 508 377 802 408 30 20 35 25 10 15 0 5 2018 3 4 Associates Gas Natural Unconventional Oil Unconventional Gas Conventional Natural Conventional Oil 2019 4 4 4 2020 5 4 5 2021 7 3 5 2022 8 3 6 2023 10 6 7 2024 11 8 8 2025 10 8 8 2026 10 8 8 2027 10 7 7 2028 9 6 7 2029 9 6 7 2030 9 6 7 36 37 UPSTREAM MIDSTREAM DOWNSTREAM (0.7 BCF/day each) 2023 = 1.4 BCF/day 2024 = 2.8 BCF/day approximately 3,900 gas wells 2025 = 4.2 BCF/day (production: 5.5 BCF/day = 2 TCF year) (production:. 4.2 BCF/day) (production: 1.3 BCF/day) 1.550 km2 => 12% acreage Vaca Muerta (gas window) 38 Bottom up estimation: o o o o 39 40 ▶ ▶ ▶ 200km recovery 250km new railway 391km upgraded To Chile Investments in Gas Transport TGN Finish Under construction TGS Investments in Oil Pipelines P. Hernández 200 OldelVal Medanito YPF-Tecpetrol Loma Campana Lago Pellegrini Allen 120 Allen – Puerto Rosales pipeline expansion. 60MM USD. 85 • Current capacity: 157 MMbbl/day 60 • Expanded capacity: 220 MMbbl/day Lago Pellegrini – Allen pipeline expansion. 40km. 30MM USD. • Current capacity : 145 MMbbl/day • Expanded capacity : 289 MMbbl/day Lago Pellegrini – Medanito pipeline expansion. 120km. 50MM USD. According to the demand forecast, an additional investment of 50MMUSD is estimated in 2026 for the construction of a new section Lago Pellegrini-Medanito. Allen – Puerto Rosales pipeline expansion. Approx. 200MM USD. • 2021 Capacity: 220 MMbbl/day • Target capacity: 415 MMbbl/day ▪ ▪ ▪ 50 Bidding Terms Bids: Bid (usd) = WU x 5000 (usd/WU) + Bonus* (usd) WU : Working Units offered for 1st Exploration Period. Must be higher than or equal to Minimum Working Units *Bonus is accepted only if WU > Basic WU; to be paid 50% upfront + 50% end of 3rd year exchangeable for WU done in the first 3 years in addition to Offered WUs Contract Terms ▪ ▪ ▪ R factor = (ƩSales-ƩRoyalties)/(ƩE&A+ƩInvestments+ƩOPEX) 51 Investments in Power Transport • • • • • Now being bidded • • • • • • • o 1 o o o 2 o o 3 o Production – MMBBL/d Demand – MMBBL/d Reserves – % Current situation Capacity Expansion ❖ The exponential growth of non-conventional Oil production in Allen-Puerto Rosales Expansion Forecast Current: ~157 Mbbl/day Argentina motivates the study of the transportation system to identify 450 415 A 2023: ~415 possible bottlenecks and guarantee an adequate infrastructure 400 Mbbl/day planning. 350 ❖ Demand forecast for the period 2019-2023 shows the need to carry out 300 expansion works on the oil transport system. 266 250 220 200 157 Forecast ✓ TA-PR pipeline: Oil Transport System Expansion (OldelVal) 150 most relevant of Flow (Mbbl/day) Flow 2017 the oil pipeline 100 126 system. 2018 Works needed to supply demand forecast (2019-26) 50 Capacity 0 2017 2018 2019 2020 2021 2022 2023 2018 Luján de Cuyo 2020 Year Pipeline Loma Campana – Lago Pipeline expansion 2021 P.Hernández Pellegrini. Lago Pellegrini – Next Steps Allen. (YPF+Tecpetrol) Pipeline expansion 2022 Transandino 60.000 E.B. Medanito – Re Commission de Pipeline expansión Señal Cerro Bayo. A.Mahuida Vaca Muerta Pipeline expansion 2026 Bajo El Choique Estación de Allen – Puerto Noroeste – E.B. 202 Bombeo Lago Rosales. Pipeline OldelVal Proposition 0 Pellegrini. Auca Mahuida. expansion Lago Pellegrini – 43km Crucero Catriel Cerro Bayo Pipeline expansion Medanito. ❖ New Contract Carrier regulation to enable firm offer transport Allen – Puerto Rosales. contracts. Medanito ❖ Time extension of Oldelval concession to match investment Current System: amortization period. La Escondida ✓ 887 Km. ✓ 1.706 Km pipeline. Estimated Loma Campana ✓ 8 Pump Stations Expected Results Lago Pellegrini Investment ✓ 8 Expansion spots 515MM USD ❖ Financial viability of oil pipeline expansions. L.Bastos ❖ More flexibility for producers to match transport contracts with Allen Chichinales C.C.C Chimpay Zorrilla P.Mahuida R.Colorado upstream projects. Algarrobo Salitral P.Rosales C.I.P.H Centenario Challacó Conventional production: • • o o o o o Overall unconventional production profile o o o o o o o o o o o o o ´ Conventional Production: • • o o o o o Overall unconventional production profile o o o o o o o o o o o o ´ 71 72 73 • • Plant assumptions: • • • • • • • • • Transportation assumptions: • • • • • Trucks assumptions: AMBA buses assumptions: Cars assumptions1: • • • • • • • • • • • • • • • • • • • • • • • Nominal power incorporated per year [MW] 76MUSD 81USD 203MUSD Precios adjudicados del Programa RenovAr Ronda 1 Ronda 1.5 Ronda 2 Todo Precio Promedio Ponderado: 54.72 USD/MWh Seleccionar ronda: Tecnología Ronda Solar Eólica Peq. Hidro Biomasa Biogás Biogás RS Ronda 1 Ronda 1.5 Ronda 2 h h W W 150 1.. 150 M M / / D D S S U U o o d d a a c c i i d d 100 1.. 100 u u j j d d a a o o i i c c e e r r P P 50 50 50 Solar Eólica Peq. Hidro Biomasa Biogás Biogás RS Ronda 1 Ronda 1.5 Ronda 2 0 20 40 60 80 100 Tecnología Ronda Potencia [MW] Solar Eólica Peq. Hidro Biomasa Biogás Biogás RS Tecnología ID Región Provincia Oferent e Nombre del proyect o Pot encia [MW] Precio adj. [USD/MWh] Biogás BG-01 Cent ro Córdoba BIOMAS CROP C.T. Río Cuart o 1 2.00 160.00 BG-02 Cent ro Córdoba BIOMAS CROP C.T.
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