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2mo ago

Pluspetrol Files $12 Billion RIGI Bid for Vaca Muerta Development

The step highlights investor response to Argentina’s expanded incentive program for large investments.

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Pluspetrol presentó la solicitud para adherirse al RIGI con una inversión de US$12.000 millones en Vaca Muerta
La solicitud de adhesión al RIGI marca un punto de inflexión en la trayectoria de Pluspetrol en el país. 
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Overview

  • Pluspetrol, which filed Thursday, asked to join Argentina’s RIGI, a national incentive program for large projects, for a $12 billion plan with Neuquén’s state firm GyP to develop the Bajo del Choique–La Invernada block.
  • The plan spans 25 years and calls for more than 600 wells and four processing plants to lift output to about 100,000 barrels of oil a day and 12 million cubic meters of gas.
  • Development starts in the south to reach 50,000 barrels a day and 6 million cubic meters of gas, then extends north to double those levels at peak.
  • RIGI cuts the corporate tax rate, waives import duties, lets exporters keep more hard-currency earnings over time, and was extended to July 8, 2027 with upstream oil and gas now eligible.
  • The application joins new upstream filings from Pampa Energía and Tecpetrol, and Economy Minister Luis Caputo said Friday the regime now lists 36 projects worth $95 billion, calling Pluspetrol’s plan the largest yet in Vaca Muerta.