Argentina Approves Multi-Billion Dollar Hydrocarbon Projects Under RIGI
Argentina's Economy Minister Luis Caputo announced that Tecpetrol and GyP's Los Toldos II Este project was approved under the country's Incentive Regime for Large Investments (RIGI).
The RIGI is an incentive scheme for companies investing in infrastructure, energy, oil and gas, and mining projects worth at least $200 million. It guarantees long-term fiscal and legal stability through tax cuts, import duty reductions, foreign exchange incentives, and more.
Los Toldos II Este, a shale project in Vaca Muerta, is expected to produce 35,000 barrels of oil per day by early 2027 and 70,000 bpd by July 2027. The project's investments throughout its life are estimated at $6.4 billion.
Meanwhile, YPF and its partners submitted their Argentina LNG project for consideration under the RIGI, with a forecasted value of $51 billion. This massive project aims to export 12 million tonnes of liquefied natural gas per year through two floating liquefaction units from Rio Negro's Gulf of San Matias.