Argentina ranks 28 th in terms of global liquids production. Output in 2013 averaged 663 000 b/d down from a peak of 872 000 b/d in 2001. Conventional oil fields are mostly mature and in decline. There is excellent potential for unconventional oil and gas particularly from the Vaca Muerta play in the Neuquén Basin. Production from tight oil and liquids associated with shale gas will help offset conventional decline and lift liquids production to 680 000 b/d in 2020.