Another RIGI for Vaca Muerta: Pluspetrol presented investments for US$ 12,000 million in the field it bought from Exxon

Together with its partner Gas and Petroleum (GyP) of Neuquén, Pluspetrol will seek to achieve a production of 100,000 barrels per day (bpd) of oil in 2029through the construction of 4 processing plants, evacuation ducts, as well as the drilling of more than 600 wells in a total period of 25 years.

The project will be structured in two stages:

“At the request of investments made in an efficient and responsible manner, sustainable energy growth will be contributed to and enhanced, with a favorable impact at an economic and social level, benefiting the community and the entire value chain of Rincón de Los Sauces and the northern region of Neuquén,” the company reported.

And he added: “This step is an important milestone in the growth of Pluspetrol since it will allow it to multiply its production, consolidating it as one of the most important oil and gas producers in the country.”

In this way, Pluspetrol takes advantage of the new window that the Government opened two months ago, when it extended the benefits of the RIGI to the exploration and production of oil and gas (Upstream) non-conventional for minimum investments of US$ 600 million, something that was not originally contemplated in the Bases Law or in its subsequent regulations.

The RIGI will remain open until early July 2027 to present investment projects, and accelerates businessmen’s decision-making in the face of the possibility that Javier Milei loses the elections and a political party less friendly to the markets returns to the Presidency.

Pluspetrolowned by Edith Rodríguez – the richest woman in Argentina, with a fortune that exceeds 3,000 million dollars -, is the fourth largest oil operator in the countrybehind YPF, PAE and Vista.

Until last year, the oil company concentrated 53% of its production in Peru, where it owns, together with Tecpetrol, the Camisea conventional field, in the middle of the Amazon region.