In mid-June, the Arpel Exploration and Production Committee organized a new webinar on Best Practices in Upstream, which was attended by professionals from Argentina, Bolivia, Brazil, Colombia, Costa Rica, Ecuador, the United States, Peru, and Uruguay.

This session focused on "Upstream Strategies for the Energy Transition" and was led by Claudia Pessagno, Director of Corporate Research and Transactions at S&P Global Commodity Insights.

The event, coordinated by Pablo Amoedo, Arpel Project Manager, aimed to exchange updated information on the energy transition in the Upstream sector of the oil and gas industry.

During the webinar, investment trends in Upstream and the allocation of cash flow were analyzed.

It was noted that global integrated companies are investing approximately 20% of their Capex in low carbon initiatives in 2024, with expected growth in the coming years.

Pessagno highlighted the key role of Latin America in hydrocarbon exploration, mainly focused on offshore activities.

She also emphasized that acquiring oil reserves is 50% cheaper than discovering and developing them.

Finally, strategic trends for the energy transition of global integrated companies were analyzed, highlighting the different approaches between European and American companies.