Vista Energy Pledges $5.8 Billion to Argentina's Vaca Muerta Field
Vista Energy, led by former YPF CEO Miguel Galuccio, has applied to join Argentina's RIGI incentive scheme for major investments. The company plans to invest $5.8 billion in drilling 336 wells across over 10,000 hectares of the Vaca Muerta shale deposits, aiming to produce 50,000 barrels of oil per day.
The proposed investment would cover the cost of building supporting infrastructure, including pipelines and a compressor plant, as the Bandera Norte area lacks existing infrastructure. Vista has already invested nearly $7 billion in the Neuquén shale deposits since 2017 and is Argentina's leading crude oil exporter, with over 70% of its daily output being exported.
The RIGI scheme offers tax breaks, customs rebates, and a favorable exchange rate over a 30-year period. The incentives include reducing corporate tax from 35 to 25%, paying IVA value-added tax with fiscal credit certificates, and exempting import tariffs and export duties. Vista's investment would be the largest in the Vaca Muerta field since the RIGI scheme was introduced in 2024.