Summary
Fracking in Añelo, Argentina, has led to rapid economic growth and a significant increase in population due to oil and gas extraction from the Vaca Muerta formation. This development has helped Argentina achieve energy self-sufficiency and allowed it to export oil and gas, thus generating foreign income. However, despite these positive impacts, challenges remain for the wider Argentine economy.
Key Facts
- Fracking started in Añelo, Argentina, in 2014, boosting the local economy.
- Añelo's population grew from about 10,788 in 2010 to 17,893 in 2022, a more than 60% increase.
- Vaca Muerta is a large area with rich oil and gas resources, discovered in 1931.
- The first major fracking project there was a joint effort involving YPF and Chevron.
- By February, Vaca Muerta had 3,358 active wells, making up over half of Argentina's oil and gas production.
- Energy from Vaca Muerta has helped Argentina stop importing expensive energy and start exporting it.
- Argentina gained a $6 billion surplus in the energy sector last year.
- Despite energy sector success, Argentina still faces economic issues like high inflation and debt problems.
