Jun. 2 at 8:47 PM
Chevron submitted an application to join Argentina’s RIGI large-investment incentive program with a proposed
$13.8 billion shale oil development in the El Trapial area of the Vaca Muerta formation. The project, which still requires government approval, would rank among the largest new investments in Argentina’s shale sector.
The investment underscores growing confidence among major global energy companies in the long-term potential of Vaca Muerta, one of the world’s largest shale oil and gas reserves. The formation is central to Argentina’s strategy of boosting energy exports and increasing foreign-currency inflows.
Chevron praised the Argentine government’s efforts to unlock the country’s energy resources, while President Javier Milei’s administration continues to promote the RIGI incentive framework as a key tool for attracting foreign capital into energy, mining, and infrastructure projects.
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