Chevron is submitting a development plan exceeding $10 billion for Argentina’s Vaca Muerta shale formation. This commitment represents one of the largest single-operator investments in the history of South American unconventional energy.
The decision follows negotiations with Economy Minister Luis Caputo and utilizes the new RIGI framework for fiscal stability. The project transitions the El Trapial Este block from a pilot phase into full-scale development.
Chevron previously invested over $500 million in pre-development capital at the site. Operational strategies incorporate engineering lessons from the U.S. Permian Basin to reduce project risk.