The action of Promos Italia

SMEs hunting for oil & gas business in Argentina

B2B meetings kick off tomorrow to develop the Vaca Muerta maxi-site, 16 billion barrels of crude oil and 870 billion cubic metres of gas

by Luca Orlando

 REUTERS

3' min read

Translated by AI
Versione italiana

3' min read

Translated by AI
Versione italiana

'Years ago,' explains Caterina Grillo, 'we worked in Argentina and now there is the possibility of going back'. "In the country it is a time of growth,' adds Francesco Cavagna, 'and thanks to these meetings we want to take advantage of it. The marketing director of Cvb Valves and the general manager of Rand Electric are looking with interest at possible new developments in Argentina and have thus decided to join the Promos Italia project.

Which together with OMC Med Energy Conference & Exhibition, the Italian Chamber of Commerce in Argentina, the Chambers of Commerce of Milan Monza Brianza Lodi and Ferrara Ravenna, and Assorisorse is organising B2B meetings in Milan and Ravenna between about forty Italian companies and a delegation of eight Argentine companies from the Vaca Muerta cluster. An enormous basin, almost as large as Belgium, which contains 'unconventional' gas and oil in a shale deposit of complex extraction, representing the 2nd largest gas reserve in the world, the 4th largest oil reserve. With an estimated 16 billion barrels of crude oil and 870 billion cubic metres of gas.

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The meetings will be held tomorrow in Milan and on the 28th in Ravenna, with the possibility of technical visits to Italian companies on the 29th. The initiative involves Italian companies active in the Energy/Oil&Gas sector, including engineering, plant engineering, components and industrial technologies.

This activity is part of a project initiated by Promos Italia and the Italian Chamber of Commerce in Argentina as early as 2021, with several business missions dedicated to the energy sector and, in particular, to the development of the Vaca Muerta basin.

Initiatives that contributed to consolidating relations between the Italian and Argentinean production chains, fostering a direct confrontation between companies, institutions and operators in the sector.

The new appointment in Italia is also part of the Italia-Argentina 2025-2030 Action Plan and in a context of renewed interest in energy cooperation between the two countries, also in light of the recent strategic agreement between Eni and Ypf, Argentina's largest energy company. The objective is to deepen the opportunities for industrial and technological collaboration between Italian companies and Argentinean operators already active in the supply chain of the main international energy companies.

The journey will continue in Argentina with a business matching activity organised by Promos Italia on the occasion of the Argentina Oil & Gas - Neuquén 2026 fair, scheduled from 19 to 22 October.

'Recent international tensions,' comments Andrea Bonalumi, Director of Internationalisation at Promos Italia, 'confirm how energy security today is also a matter of geographical, industrial and technological diversification. In this context, the dialogue with the Vaca Muerta cluster, which we have been initiating for years, takes on a particular value: it is not just a matter of looking at an alternative energy basin, but of building relationships between qualified supply chains, capable of contributing to greater resilience of supplies and value chains. Promos Italia's task is to accompany Italian companies in markets where concrete, not theoretical, opportunities exist. Latin America, and in particular the Mercosur area, is becoming increasingly important also in the light of the new framework of economic relations with the European Union. For our companies, especially in the industrial and technological sectors, an important space is opening up to build stable collaborations with qualified local partners'.

"This initiative," explains Claudio Farabola, Secretary General of the Italian Chamber of Commerce in Argentina, "represents a new stage of a path started in 2021 together with Promos Italia, which has already allowed us to strengthen the dialogue between the Italian and Argentinean production chains in the energy sector, with particular attention to the development of Vaca Muerta. Within the framework of the Italia-Argentina 2025-2030 Action Plan and the renewed interest in energy cooperation between the two countries, we want to foster new opportunities for industrial and technological collaboration between Italian companies and Argentine operators in the supply chain'.

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