Los Toldos II Este Project in Vaca Muerta Approved for USD 6.4 Billion

The Argentine Government has officially incorporated the Los Toldos II Este project into the Regime for the Promotion of Large Investments (RIGI). This initiative, led by Tecpetrol, a company within the Techint Group, is located in the Vaca Muerta basin, near Rincón de los Sauces.

The project, requiring an investment of USD 6.4 billion, aims to produce 70,000 barrels per day of unconventional oil. The development is expected to generate approximately 3,100 direct jobs and around 4,800 indirect jobs.

Project phases

• First phase: From November 2024 through February 2027, with an investment of USD 1.635 billion. Funds will be allocated to infrastructure and transportation, including a processing plant and the construction of pipelines and gas pipelines.

• Second phase: From March 2027 through June 2029, with an investment of USD 1.268 billion. This phase will seek to increase plant capacity and drill 91 additional wells.

• Third phase: Between July 2029 and 2054, with projected investment of USD 3.529 billion, encompassing the drilling and completion of 273 wells.

Additionally, a report suggests that Neuquén could surpass provinces such as Córdoba, Santa Fe, and Buenos Aires in export value in the coming years, driven by increased unconventional oil production and future liquefied natural gas exports.

Recently, other projects in the region have also been approved, such as Pluspetrol's initiative, with an investment of USD 12.4 billion, further expanding the potential of Vaca Muerta as a key energy hub in Argentina.