Latin America upstream: 2019 in review

In 2019, Latin America laid a firm basis for future growth in the E&P sector. Licensing rounds drove the attention of upstream companies across several countries, that attracted investment to development and exploratory acreage. Petrobras emerged as the clear winner in Brazil’s offshore rounds, while ExxonMobil and Tullow Oil sustained their exploratory success in Guyana. Argentina’s Vaca Muerta is a rising star, although country volatility may slow-down the development pace.