Vaca Muerta to create 90,000 jobs and draw $130 bn investment by 2029

YPF chief Horacio Marín announced that the Vaca Muerta shale development will generate about 90,000 new jobs – roughly 40,000 in oil‑and‑gas operations and 50,000 in related infrastructure – and will require US$130 billion of investment over the next five years. Production at the basin recently topped 900,000 barrels per day, accounting for 69 % of Argentina’s total output.

The surge in Vaca Muerta activity is reshaping the country’s investment map. While Neuquén will receive almost 90 % of the US$13.9 billion oil‑investment budget for 2026, Mendoza’s share of total investment is under 1 %, although it will account for about 25 % of the nation’s exploration spending.

In parallel, Argentina posted a record current‑account surplus of US$1.877 billion in May 2026 and its foreign‑exchange reserves rose by US$3.678 billion, supported by strong export performance in agriculture, energy and mining. Analysts note the dollar has risen about 5 % in June, putting pressure on households and medium‑size firms, while inflation expectations remain around 2 % monthly.

A separate legal challenge has been filed against a provincial agreement that shields YPF from future environmental liabilities in Chubut, arguing it violates national and provincial environmental laws. Meanwhile, YPF and Tesla have signed a non‑binding letter of intent to explore joint projects on electric‑vehicle charging, battery storage and data‑center services, though no concrete investment has been confirmed.