PARIS — French energy major TotalEnergies plans about $10 billion of investments in Argentina across offshore gas and Neuquén shale projects, Chief Executive Patrick Pouyanné said Thursday at Argentina Week in Paris, Reuters reported.
Pouyanné said the portfolio includes a new offshore development in Tierra del Fuego and expansion of gas production in Neuquén, with an aim of boosting output toward 16 million cubic metres per day and roughly $4 billion to $5 billion of spending over the next decade on the gas side alone. Argentine and regional outlets said the Tierra del Fuego project was dubbed “Alberdi” after talks with President Javier Milei, with about $1.5 billion earmarked offshore and a large San Roque shale-oil push in Vaca Muerta potentially seeking RIGI investment incentives.
Pouyanné linked the renewed appetite to Argentine policy changes including freer dividend remittances and the RIGI large-investment regime. TotalEnergies has operated in Argentina for years; the fresh package marks one of the largest European energy commitments announced into the Milei-era investment push.
Sources: Reuters via MarketScreener, Infobae
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