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HOUSTON, March 26 (Reuters) - Argentina's energy exports could reach $50 billion per year starting in 2031, driven primarily by sales of liquefied natural gas $(LNG)$, the chief executive of Argentina's state-run oil and gas producer YPF, Horacio Marin, said on Thursday.
The executive, who spoke at an energy conference in Houston, said he estimates $130 billion will be invested in the country through 2031 for the development of crude oil, LNG, and transport infrastructure from the Vaca Muerta region - the world's second-largest unconventional gas reserve and fourth-largest oil reserve.
Marin also estimated that Argentina's oil production could reach 1 million barrels per day (bpd) by the end of December, from a current level of 900,000 bpd.
Argentina is looking to become a global energy player, using exports coming from its Vaca Muerta formation.
YPF is leading projects to transport gas from Vaca Muerta to an Atlantic-facing port in Rio Negro province, where two ships will arrive to convert it into LNG for shipment worldwide.
The Southern Energy company, comprised of YPF, Golar LNG, Pan American Energy, Pampa Energía, and Harbour Energy, has agreed to bring in the two ships.
One of those ships, the Hilli Episeyo should arrive in the second half of 2027 while the MKII is set to arrive in the second half of 2028. They have a capacity for 2.4 million tons of LNG per year and 3.5 million tons per year, respectively.
(Reporting by Marianna Parraga; Editing by Eliana Raszewski, Lucinda Elliott and Sarah Morland)
((marianna.parraga@thomsonreuters.com; +1 713 371 7559; Reuters Messaging: @mariannaparraga))