Argentina's Pampa Energía to build world‑leading urea plant as Phoenix sets Vaca Muerta drilling record

Pampa Energía announced a US$2.7 billion investment to construct a granular urea plant in Bahía Blanca. The facility will have an annual capacity of 2.1 million tonnes, is slated to start operations by the end of 2029 and is expected to generate more than 3,500 construction jobs and about 300 permanent positions. Partners include Tecnimont and SACE, with technology supplied by Nextchem, and the plant aims to replace imports and export primarily to Brazil, boosting Argentina's fertilizer sector.

Phoenix Global Resources, in partnership with US drilling contractor Helmerich & Payne, completed its fastest well in the Vaca Muerta shale formation using HP’s Rig 230. The operation cut drilling time by 13% and costs by 15% compared with the previous record, a result the companies described as “reflecting the solidity of a true operational collaboration.” The achievement comes as Phoenix added three new shale‑oil wells in May, positioning the firm among the most active operators in the Argentine shale play.