Argentina energy sector sees major investments from Pluspetrol, PAE, and TotalEnergies

Argentina has seen significant energy sector investment announcements during the Argentina Week in Paris. Pluspetrol, in partnership with Gas y Petróleo del Neuquén, has received approval under the Large Investment Incentive Regime (RIGI) for its Bajo del Choique-La Invernada project in Vaca Muerta. The 25-year project involves a USD 12.4 billion investment, including the drilling of over 620 horizontal wells and the construction of four processing plants. The project aims to reach a peak production of 100,000 barrels of oil and 12 million cubic meters of gas per day.

Additionally, Pan American Energy (PAE) has applied for RIGI status for a USD 1.2 billion project at the Cerro Dragón field in Chubut. This initiative focuses on tertiary recovery techniques, such as polymer injection, to extend the life of the conventional oil field. The project includes drilling 100 wells and installing 22 injection plants.

In a separate announcement, Economy Minister Luis Caputo confirmed that the French company TotalEnergies plans to invest approximately USD 10 billion in Argentina. This investment will target gas, oil, and renewable energy production, including a USD 1.5 billion offshore project in Tierra del Fuego.