The creation of Enarsa was a response to the energy crisis endured by Argentina in 2004, caused in part by lack of investment by private fossil fuel companies in infrastructure needed to meet the demand of natural gas.

Enarsa's main asset is the ownership of all rights of supervision and concessions of exploitation of offshore energy resources (i. e. all kinds of fossil fuels that are or may be found in the maritime platform).

Jorge Haiek, a member of Enarsa's board of directors, asserted that Argentina should cease to export oil in order to preserve a strategic reserve for the near future, and attempt to substitute natural gas for liquid fuel whenever possible, until alternative sources can be developed.

Argentine Minister of Federal Planning Julio de Vido stated that the government is working to create a supranational energy company which would include Venezuela, Bolivia and Argentina; PDVSA participates in Enarsa with investment and technical consultation.

Enarsa later entered into a number of joint ventures with state-owned PdVSA of Venezuela, yielding a discovery in 2008 of an oil field in the Orinoco River basin of up to 3 billion barrels.