Overview
- Tecpetrol, part of Grupo Techint, formally asked to enroll its Los Toldos II Este oil project in Argentina’s incentives regime for large investments, a request now set for a months-long review.
- The plan targets 70,000 barrels per day within two years with associated gas output, and the buildout is expected to peak at about 2,800 jobs near Rincón de los Sauces in Neuquén.
- Argentina recently widened the RIGI to cover exploration and production projects with a minimum of $600 million, offering lower corporate taxes, tariff exemptions, phased access to export dollars, and 40 years of fiscal and regulatory stability.
- Officials say roughly 40 RIGI applications are already in and they expect 15 to 20 more before the window closes, with Pampa Energía filing a $4.5 billion oil project and GeoPark saying it is studying a $500 million to $1 billion request.
- The filing followed public attacks by President Javier Milei on Tecpetrol’s Paolo Rocca, underscoring political friction even as Vaca Muerta is positioned as Argentina’s main route to higher oil output and future exports.