France's TotalEnergies Vows to Invest Nearly US$10 Billion
The company plans to boost gas output and develop new fields as Argentina opens more incentives for foreign investment, Pouyanné said.
- On Thursday, French oil and gas giant TotalEnergies Chairman and CEO Patrick Pouyanné announced nearly US$10 billion in investments to expand operations in Argentina, focusing on the Vaca Muerta shale formation and offshore projects during President Javier Milei's visit to Paris for Argentina Week.
- With nearly 50 years of operations in Argentina, TotalEnergies has already invested almost US$6 billion in Neuquén Province and now supplies around a quarter of Argentina's natural gas, positioning itself as the country's largest producer.
- Specific projects include developing the San Roque oil field in Vaca Muerta at approximately US$5 billion and a US$1.5-billion offshore venture in Tierra del Fuego Province, while aiming to raise gas production to 16 million cubic metres per day at Aguada Pichana.
- Pouyanné credited President Milei for enabling the investment through dividend repatriation rights and tax benefits under the RIGI incentive scheme; the pair agreed to name the development Alberdi, honouring Juan Bautista Alberdi, architect of Argentina's 1853 Constitution.
- The investment positions TotalEnergies to deepen its dominance in Argentina's energy sector; achieving the production target would strengthen the company's role as the country's primary natural gas supplier amid broader government reforms attracting foreign capital.
32 Articles
32 Articles
ledauphine.com
The French petrogazier giant TotalEnergies will invest nearly $10 billion in Argentina over the next few years, on three already existing projects, announced this Thursday its CEO Patrick Pouyanné.
The CEO of the company announced the intention to carry out new projects in the country within the framework of the Argentina Week in Paris
A new page in bilateral relations is opening between Paris and Buenos Aires, as French energy giant TotalEnergies
TotalEnergies chief says to invest nearly $10 billion in Argentina
French energy giant TotalEnergies will invest nearly $10 billion in the coming years to expand its operations in Argentina, its chief executive said Thursday as Argentine President Javier Milei visited Paris. “I’m happy to announce that we have close to $10 billion of investments ahead of us in Argentina,” Patrick Pouyanne said at a conference. […]
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