7/102 sources · 2 publishersUpdated Oct 8, 19:19 UTC
TotalEnergies outlines $10 billion Argentina energy investment
TotalEnergies said it intends to put $10 billion into Argentine oil and gas projects, including drilling in Tierra del Fuego and additional gas capacity in Neuquén. Chief Executive Patrick Pouyanné disclosed the plan in Paris on October 1. The company is aiming for Argentine gas output of 16 million cubic metres per day.
Why it matters
The planned expenditure would expand TotalEnergies' upstream presence in Argentina and increase its exposure to gas projects in Neuquén and Tierra del Fuego. The company says the programme supports its broader objective of growing total energy production by about 4% annually through 2030.
Key facts
- 1Patrick Pouyanné announced in Paris on October 1 that TotalEnergies intends to invest $10 billion in Argentina. serrarigroup.com
- 2The investment plan includes further drilling in Tierra del Fuego and expanded gas operations in Neuquén. brandiconimage.com
- 3TotalEnergies is targeting Argentine gas production of 16 million cubic metres per day. serrarigroup.com
- 4The company expects between $4 billion and $5 billion to be directed to Neuquén gas expansion over the next decade. brandiconimage.com
- 5TotalEnergies has set a goal of increasing overall energy production by about 4% annually through 2030. brandiconimage.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.