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Argentina wants firms to invest $5 billion in Vaca Muerta

Christian Fernsby ▼ | October 19, 2020
Argentina wants firms to invest $5 billion to boost hydrocarbon production and generate jobs in Vaca Muerta shale deposits.
Vaca Muerta
Billion   Vaca Muerta
The plan, unveiled by President Alberto Fernández in Neuquén, aims to substitute natural gas production for imports, savings some $5.6 billion while netting some $2.5 billion in tax revenue, welcome relief in the light of the 12 percent economic contraction forecast for this year.

Topics: Argentina

"This plan means more work, and the generation of gas that Argentina needs to live and produce," Fernández said. "It means to stop thinking about importing gas."

Vaca Muerta is one of the world’s largest reserves of shale oil and gas.