US energy giant Chevron has submitted a proposal to join Argentina’s Large Investment Incentive Regime (RIGI) for a $13.8 billion unconventional oil development at the El Trapial-Este block in the Vaca Muerta shale formation.
The project aims to increase production from around 7,000 barrels per day (b/d) to approximately 30,000 b/d, subject to government approval and the availability of infrastructure.
The application marks one of the largest single investment proposals under Argentina’s RIGI program and Chevron’s biggest planned investment in the country since it entered the market in 1999.
The filing does not represent a final investment decision and remains subject to regulatory approval.
If approved, the project would strengthen Chevron’s position in Argentina’s key shale oil region, which is central to the country’s strategy to boost energy production and exports.
