Pluspetrol and GyP Incorporated a USD 12.4 Billion Project to RIGI in Vaca Muerta

Pluspetrol and Gas y Petróleo del Neuquén (GyP) obtained approval to incorporate the Bajo del Choique–La Invernada development into the Régimen de Incentivo para Grandes Inversiones (RIGI) in Vaca Muerta. The plan contemplates disbursements of USD 12.4 billion over the next 25 years.

The initiative includes the drilling of over 620 horizontal wells, the construction of four processing plants, and the installation of pipelines linked to hydrocarbon production and evacuation. The deployment will be carried out in two phases.

In the first stage, the project aims to reach 50,000 barrels of oil and 6 million cubic meters of gas per day. Subsequently, the goal is to exceed 100,000 barrels per day of crude and reach 12 million cubic meters per day of gas at peak production.

Pluspetrol plans to begin with three drilling rigs and an average of 41 wells per year. According to project projections, entry into the RIGI would allow a 34% increase in production compared to the scenario projected without the acceleration associated with the regime.

The development would impact Rincón de los Sauces and northern Neuquén, with over 2,350 direct jobs and approximately 4,640 indirect jobs. The participation of roughly 200 direct suppliers and 900 indirect hires is also estimated, with a potential expansion of 10% from 2028 due to the incorporation of new equipment.

In terms of exports, the companies project a cumulative volume of 794 million barrels of oil and gas equivalent, with capacity to generate around USD 2.2 billion annually. The project falls under the regime created by Law 27.742, which establishes incentives and stability for major investments, including those related to oil and gas.