While many companies and professionals spend December closing their calendars and preparing for vacation, others are gearing up for the last big event of the year.
Geoscientists, engineers and business development professionals working in unconventional resources are packing their bags for Argentina, a country that has made international headlines throughout the year for its economic crisis, triple-digit inflation, contentious presidential race and billion-dollar investment in shale plays.
They will gather in Buenos Aires Dec. 4-6 for the first in-person Latin America Unconventional Resources Technology Conference, taking place at the Hilton in Puerto Madero, across the street from the headquarters of national energy company YPF.
URTeC is a multidisciplinary conference and exhibition owned by the Society of Petroleum Engineers, AAPG and the Society for Exploration Geophysicists and operated by AAPG.
Since its inception in 2013, URTeC has served as a premier event focused on the latest science and technology applied to exploration and development of unconventional resources, with special emphasis on integration of the technical/professional disciplines.
Latam URTeC 2023, themed, “Unconventional Solutions for a Low Carbon Future,” highlights best practices and innovations for the exploration and development of oil and gas plays, as well as considerations for how existing technologies can be applied to carbon capture, utilization and storage and renewable energy projects.
A World-Class Reservoir
The biggest draw for the Buenos Aires-based event is Vaca Muerta, a geologic formation of Late Jurassic to Early Cretaceous age, located in the Neuquén Basin in northern Patagonia. The formation is known globally as a source rock for major deposits of shale oil and shale gas.
The Argentine Ministry of Economy classifies Vaca Muerta as the world’s second most important natural gas play and fourth largest unconventional oil play. Currently 31 operators work in the area.
In June 2023, Chevron announced plans to invest more than $500 million to develop the basin’s Trapial block in the western Neuquén province. In September, Mexican firm Vista Energy announced intentions to invest $2.5 billion in Vaca Muerta over the next three years – a 60-percent increase from the amount presented in the company’s previous plan.
Representatives from Chevron and Vista will join colleagues from YPF, Tecpetrol, TotalEnergies and Pluspetrol in “Operators Vision of Vaca Muerta Development,” a special session held the first day of the conference in Buenos Aires following an opening keynote from YPF CEO Pablo Iuliano.
A Three-Year Effort Comes to Fruition
The 2023 conference event builds on the inaugural Latam URTeC 2020 originally set to be held in Buenos Aires and moved online during the COVID-19 pandemic.
Eduardo Lucio Vallejo, Latin America URTeC 2023 program co-chair representing AAPG and R&D support manager at YPF Tecnología SA, has been involved with event planning for the past four years. He has worked along Gustavo Carstens, Argentina-based consultant who has held multiple leadership positions within SEG and the Argentine Association of Petroleum Geologists and Geophysicists (AAGGP).
Both served on the organizing committee for AAPG’s International Conference and Exhibition that convened 1,500 attendees in Buenos Aires in August 2019. The ICE event was so well received by the local geoscience community that YPF agreed to serve as principal sponsor and host for a URTeC event focused on Latin America the following year.
Vallejo and Carstens have served as program co-chairs both for the 2020 online event and for the in-person event taking place at the Hilton Buenos Aires. In planning the Latam URTeC online they worked with SPE co-chair Luis Baez, then international unconventionals manager for Shell. For the 2023 event they are working with SPE co-chair Isaac Aviles, strategy and digital manager for SLB Reservoir Performance.
“Isaac has a long history of involvement with URTeC in the United States, and we greatly appreciate the insight and leadership he has brought to planning the event in Argentina,” Carstens said.
In addition to supporting the committee, Aviles is moderating “The Future of Unconventionals: Technological and Business Considerations” luncheon session and co-chairing a special session “Driving Innovation and Collaboration: Service Companies and Operators Shaping the Future of Shale and Tight Resource Development.”
The chairs view the December 2023 event as a culmination of an extended but valuable effort.
“We’re so glad to finally meet in-person in Argentina,” Vallejo said. “The country, and the region, have experienced many changes in the past three years, but the strategic value of unconventional resources, both for Argentina and for the region, remain.”
A Historical Moment
The most significant change for Argentina took place during presidential elections on Nov. 17, when Argentines elected Javier Milei, a right-wing libertarian outsider who plans to institute free-market policies in all sectors, including oil and gas. Milei will assume the presidency on Dec. 10, the Sunday following the URTeC event|.
Carstens noted that, while political and economic shifts draw international attention, Latam URTeC organizers prefer to focus on the long-term value that unconventional resources bring to countries in the region, regardless of the political parties in power.
“The exploration and development of unconventional resources in Latin America, conducted within the context of sustainable strategies, technologies and practices, play a fundamental role in our societies and in shaping the future and evolution of the region’s energy sector,” he said. “The results and achievements of unconventionals are exemplified through a decade of development in the Vaca Muerta shale.”
Latin America URTeC opens with an address by YPF CEO and Latin America URTeC Honorary Chair Pablo Iluliano , who will share experiences and results from the company’s activities in Vaca Muerta, and a vision of the future of the reservoir’s value at the regional level. The keynote sets the stage for the Vaca Muerta Operator Panel featuring executives from companies working in Argentina.
The Vaca Muerta panel is one of four special sessions and three topical luncheons featuring executive-level speakers whose organizations are working to meet the dual goals of providing energy security while reducing their carbon footprint, implementing new technologies and incorporating diversity into leadership teams and business practices.
“The special sessions complement the broad and multidisciplinary technical program that is characteristic of URTeC events,” Vallejo said.
The technical program features nine themes relating to traditional engineering and geoscience topics, as well as data analytics and artificial intelligence. Attendees can choose from 60 oral presentations and 52 poster presentations and visit a core exhibit with samples from Vaca Muerta and other unconventional plays in Argentina.
A Broad Program with Global Support
The 2023 conference has an international focus, with speakers from 82 organizations and 18 countries to Buenos Aires to share their expertise with a global audience. Registered attendees come from the Americas, Europe, the Middle East and Asia.
Program co-chairs attribute the quality of the Latin America URTeC’s program to the combination of global expertise and local support.
“As a demonstration of our commitment to the comprehensive development of industry professionals, we have worked closely with local professional societies, the Argentine Association of Petroleum Geologists and Geophysicists and two SPE Sections, the Argentine Petroleum Section based in Buenos Aires and the SPE Patagonia Section, based in Neuquén,” Carstens said.
AAGGP and SPE will host pre- and post-conference short courses and will have stands in the exhibition. The societies have representation in the technical program committee and have assisted with event promotion.
The event also offers opportunities for the next generation of energy professionals: reduced student registration rates, complimentary registration for event volunteers and free admission to the exhibition, poster session and core exhibit on the final day of the event.
The Student and Young Professional Technical Symposium, open to all and free of charge, will be held in the Hilton Buenos Aires on Dec. 6, immediately following the URTeC event.
Vallejo expressed gratitude to the organizers are grateful for the opportunity to host the event, and said he looks forward to positive results.
“We want to thank the URTeC sponsoring organizations, host organizations, principal sponsor YPF, other corporate sponsors, exhibitors, and attendees for their trust, support, and efforts to bring a successful conference to Argentina,” he said. “We welcome attendees to the wonderful City of Buenos Aires and hope they enjoy and take advantage of all the opportunities offered in this Latin American edition of URTeC.”
For additional information and to register visit urtec.org/latinamerica.