Argentina's Vaca Muerta Expansion Accelerates Under Milei's RIGI Framework

Pluspetrol SA has announced plans to accelerate production at the Bajo del Choique-La Invernada field, a key asset within Argentina's Vaca Muerta shale formation. The decision comes as the company seeks to capitalize on new regulatory advantages provided by the national government. The acceleration is driven by the Regime for Incentive for Large Investments (RIGI), a cornerstone of President Javier Milei's economic agenda. The framework was recently broadened to cover shale oil wells, providing the fiscal and regulatory certainty required to unlock massive capital expenditures in the region. The Vaca Muerta region remains one of the most promising shale deposits globally. The specific project in question is part of a broader $12 billion development effort aimed at enhancing Argentina's energy independence and increasing its capacity for hydrocarbon exports. By leveraging the RIGI incentives, Pluspetrol aims to bring production online faster than previously scheduled. This development signals growing confidence among private drillers in the Milei administration's pro-market reforms and its ability to attract significant investment into the energy sector.