LatinNews Daily - 24 April 2026

*Argentine oil company Pluspetrol, in partnership with Gas y Petróleo del Neuquén (GyP), an oil company owned by Neuquén’s provincial government, has formally submitted a request for a new project to be approved under the federal government’s incentive for large investments scheme (Rigi). The project is to develop the Bajo del Choique–La Invernada block which is located in the Vaca Muerta shale field in Neuquén province, with an estimated investment of US$12bn. According to a statement by Neuquén’s provincial government, the initiative includes the construction of four processing plants, the drilling of over 600 wells, and the installation of pipelines and evacuation infrastructure, over a 25-year period. The project comprises two stages. The first, in the southern zone, involves constructing two plants and the necessary infrastructure to produce 50,000 barrels of oil per day (bpd) and 6m cubic metres per day (m³/d) of gas. The second, in the north, will double oil production to 100,000 bpd and gas production to 12m³/d.

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