YPF achieved a new horizontal drilling record in Vaca Muerta. According to the local company DLS, the onshore drilling division of Archer Limited, which provides drilling and completion services in Argentina and Bolivia and YPF, 2,245 meters were advanced in 48 hours with Rig 169 in the SOIL-369 well in the Loma Campana block. In the first quarter, YPF's oil production increased 3% compared to the previous quarter. Of this production, 23% came from non-conventional production, which grew by 11%.
The national government designed a new gas pipeline system that will save $1.15 billion per year by substituting imports, resulting in annual fiscal savings of almost $600 million. The pipeline system intends to replace all LNG imports, replace declining Bolivian production and supply natural gas to all thermal power plants to replace domestic liquid fuels.
So far in June, agricultural foreign exchange settlements totalled around $1.95 billion, which represents a drop of approximately 18% concerning the same period of the previous month, which ended with a record $3.55 billion. The reasons are purely seasonal for the Argentine harvest.
Loma Negra, the Olavarría-based cement company, held a ceremony to switch on the kiln of the second line of the L'Amalí plant, which will start production next Saturday. The latest generation plant will enable the company to increase its output by 2.7 million tons of cement per year, equivalent to 40% of its current capacity. Its construction required an investment of $350 million and will improve efficiency and productivity.
The Argentine industry grew 5.1% in the first four months of 2021 compared to the same period of 2019, with much higher performance compared to other countries such as Brazil (1.8%), Chile (1.4%), Spain (-4.2%), France (-6.5%) or Italy (-1.3%) in the same period.
The strategic consulting, technology services and outsourcing company "Accenture" seeks to expand its workforce in Argentina. To do so, it launched a search for 1,200 people to fill professional positions in the areas of finance, technology, HR, Big Data and Cloud, among others.