The article contributes to the debate about the regulation of non-conventional hydrocarbons and water in Argentina. The treatment of environmental problems emerged on the international agenda at the beginning of the seventies of the twentieth century and had a quick reception in the Argentina environmental institution. Firstly, throughout the article, are discussed central technical aspects of exploration and exploitation of conventional and unconventional hydrocarbons. Then, it is presented the policy and institutional framework governing the environmental policy in the country, especially to hydrocarbons and water. Finally, it is proposed to advance in the environmental regulation of the activity with the sanction of minimum budgets law on environmental protection.