TotalEnergies to Invest $10B in Argentina, CEO Says
The company plans to boost gas output and develop new fields as Argentina opens more incentives for foreign investment, Pouyanné said.
- On Thursday, TotalEnergies Chairman and CEO Patrick Pouyanné announced nearly US$10 billion in investments to expand operations in Argentina, focusing on the Vaca Muerta shale formation and offshore projects during President Javier Milei's Paris visit for Argentina Week.
- With nearly 50 years of operations in Argentina, TotalEnergies has already invested almost US$6 billion in Neuquén and now supplies around a quarter of the country's natural gas, positioning itself as Argentina's largest producer.
- Expansion plans encompass developing the San Roque oil field in Vaca Muerta at approximately US$5 billion, a US$1.5-billion offshore project in Tierra del Fuego Province, and raising gas production to 16 million cubic metres per day at Aguada Pichana.
- Pouyanné credited President Milei's RIGI investment incentive scheme and dividend repatriation policies for enabling the commitment, while the pair agreed to name the development Alberdi in honour of Juan Bautista Alberdi, architect of Argentina's 1853 Constitution.
- The investment strengthens TotalEnergies' position as Argentina's dominant energy supplier and signals renewed confidence in the country's investment climate following recent policy reforms under the Milei administration.
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TotalEnergies will invest nearly $10 billion in Argentina in the coming years, mainly to expand its production of shale oil and gas in the province of Neuquén, Patagonia.
Globo
CNN BrasilThe French oil company TotalEnergies plans to invest US$ 10 billion in Argentina, said the president-executive, Patrick Pouyanne, on Thursday (01) at a conference in Paris. The investment will be distributed by different projects, including the drilling of new wells in the Land of Fire and the expansion of gas production in Neuquén. We want to increase production to 16 million cubic meters per day, said Pouyanne, adding that investments from US$…
ledauphine.com
The French petrogazier giant TotalEnergies will invest nearly $10 billion in Argentina over the next few years, on three already existing projects, announced this Thursday its CEO Patrick Pouyanné.
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