“From 600 to 1,000: the expanding network of Argentine companies working in Los Toldos II Este”
At the annual ProPymes event, Tecpetrol CEO Ricardo Markous put the spotlight on the value chain and how it’s contributing to the development of Vaca Muerta, calling on companies to keep innovating and compete in global markets.
At the 24th ProPymes Seminar, held at the Buenos Aires Convention Center, Ricardo Markous took the lead in the panel From Fortín de Piedra to Los Toldos II Este: Competitive SMEs to Develop Vaca Muerta. His message was clear and optimistic: Argentina’s energy future is one of great opportunity, and SMEs have a central role to play in making it happen.
Markous stressed that the Neuquén formation is no longer just a promise, but a reality that’s already reshaping the country’s energy landscape. Oil production, he noted, is growing at an unprecedented rate. “This year, we’ve already surpassed 800,000 barrels per day,” he said, adding that industry projections point to Argentina reaching “one million barrels per day within the next two years, once the new VMOS transport project comes on line.”
The picture is just as encouraging on the gas side. “Thanks to Vaca Muerta, Argentina was able to balance its energy trade balance in 2023,” Markous explained. “And in 2024, we’re already close to USD 5 billion in positive territory.” Looking ahead, LNG projects could generate more than USD 20 billion a year by 2030 and 2035, helping sustain growth in gas production and further strengthen Argentina’s place in global energy markets.
The CEO highlighted that exports are no longer just a future goal — they’re already happening. “Today we’ve resumed gas exports to Chile thanks to the reversal of the Northern Gas Pipeline,” he said, while also pointing to the first shipments to Brazil. Looking ahead, he stressed the role local production will play as Bolivian output declines. “Bolivia is facing a drop in production, and we’ll be able to step in and replace that supply,” he noted, underscoring the importance of advancing new LNG projects in this context.
He went on to emphasize just how much impact Fortín de Piedra’s had during peak winter demand. At its height, the field produced 25 million cubic meters of gas per day, cementing its role as a cornerstone of Argentina’s energy supply. “In winter, one out of every five Argentine households is supplied with gas from Fortín de Piedra—and we achieved that together with a thousand national companies,” he said. Launched in 2017, the project surpassed all initial expectations and firmly positioned the company as a key player in the country’s energy landscape.
Markous shared updates on Los Toldos II Este, the new development near Rincón de los Sauces. With an investment of more than USD 2.5 billion, the project aims to reach production of 70,000 barrels of oil per day by 2027, bringing Tecpetrol’s output in the Neuquén Basin close to 100,000 barrels per day. Once again, the value chain plays a central role: “More than 600 national companies are already involved, and we expect that number to grow to around 1,000.”
Against a backdrop of lower international prices, Markous was clear about what lies ahead. “Operators and SMEs are going to have to work together to stay competitive,” he said. Innovation and operational efficiency, he added, will be decisive. As an example, he pointed to the Real Time Operation Center: “In 2017, drilling a well took us 30 days. Today, we do it in just 14.2 days.”
Finally, Markous highlighted the impact of the ProPymes program itself. “More than 270 companies have already taken part in the program, with 5,000 people trained and nearly 100,000 hours of training accumulated since 2020,” he said. That support goes beyond training, he added, and includes management projects, data and indicators, strategic guidance, comprehensive management tools, and technical standards. Looking ahead, he also pointed out that after Vaca Muerta, mining will bring a new scale of demand, opening up fresh opportunities for SMEs.
He closed with a clear message for the entire value chain: “As operators and SMEs, we have to work together to ensure Vaca Muerta is more than record production and foreign exchange, instead becoming the basis of a country with a future-ready industrial network.”