1) Vaca Muerta - Argentina
Vaca Muerta is one of the world's largest shale plays with estimated reserves of 22.8Bboe. Argentina's state-controlled YPF, Apache,Chevron, Total, ExxonMobil and Arpetrol are among the companies to have invested in exploration. The Loma La Lata Norte and Loma Campana areas alone are expected to attract investments of US$15bn.
2) Yasuní ITT (blocks 31 and 43) - Ecuador
State E&P operator Petroamazonas would develop the area home to an estimated 890Mb. Development of fields Tiputini and Tambococha to reach peak average of 200,000b/d from these areas will require US$2.8bn, and US$5bn if Ishpingo is developed.
3) Junín 4 - Venezuela
Operated by Empresa Mixta Petrourica, a joint venture between Venezuela's state oil company PDVSA and China's CNPC, the Junín 4 area will produce up to 400,000b/d of heavy crude, according to the Venezuelan government. Junín 4 is located near El Destino, in the prolific Orinoco belt.
4) Junín 10 - Venezuela
According to PDVSA Junín 10 has a production potential of 220,000b/d. Investment in the area is expected to reach US$14.1bn.
5) Quifa SW - Colombia
Canada's Pacific Rubiales plans to double oil production from the heavy oil field following the implementation of its enhanced oil recovery scheme next year. Quifa SW has net 2P reserves of 73.1Mboe, about 21% of Pacific Rubiales' certified oil and liquids reserves base in Colombia.
6) Burgos - Mexico
The Burgos basin has long been Pemex's largest gas producer but has seen production slip 14.2% since the beginning of 2013 to 1.19Bf3/d. It will see investment of 22.4bn pesos (US$1.70bn) in 2014, but that looks to get slashed in 2015 to 8.44bn pesos. The challenge for Burgos is moving into unconventional plays. The US Eagle Ford play stretches into Burgos and Pemex has made two shale discoveries in the play to date.
7) Blocks 67, 57 - Peru
State hydrocarbons promotion agency Perupetro expects natural gas and crude commercial production on blocks 67 and 57 to begin by year-end. Perenco block 67 output will start with 6,000b/d with the goal of reaching 30,000b/d in 2017 and peak production of 60,000b/d in 2019. The block's proved reserves total around 100Mb. In the case of block 57, operated by Petrobras and Repsol, initial production is pegged at 5,600b/d NGLs and 85Mf3/d (2.41Mm3/d) gas with the aim of reaching 9,300b/d and 160Mf3/d in 2016. Proved reserves total around 562Bf3 and 30.7Mb NGLs.
8) São Francisco basin - Brazil
Following the loud but until now hollow claims of local startups OGX and HRT, Petra Energia has opted for a tip-toe approach to its 24-block São Francisco basin campaign in Minas Gerais state. Petra earlier this year confirmed the existence of hydrocarbons at the 1-PTRA-17-MG well in block SF-T-121 and BNamericas tips more good news to come from the company's 7km2 acreage. Petra has already confirmed the presence of unconventional "tight" natural gas in 21 São Francisco wells and expects to begin production from the area in 2015.
9) Chicontepec - Mexico
Despite accumulated investment of 183bn pesos, the unconventional, largely tight oil, area has failed to be an important producer for Pemex with production at just 61,000b/d. Investment in 2014 is expected to be 13.6bn pesos, 11.1bn in 2015, and 20.4bn pesos in 2016. The question is whether Pemex's integrated service contracts can attract new technologies and more productive wells at Chicontepec.
10) Parnaíba blocks 2, 3 - Brazil
Franco-Belgian firm GDF Suez earlier this month bought a 20% stake in the Parnaíba basin's blocks 2 and 3 from Brazilian mining giant Vale, describing the combined 6,137km2 area as "little explored but high in natural gas potential." GDF Suez, alongside partners Petrobras and BP are set to drill the first exploration wells from both blocks in March.
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