Tecpetrol Awaits Economic Stability for Investment Surge

Argentina's Tecpetrol is holding off new market financing until macroeconomic stability improves, per CEO Ricardo Markous. The company, which holds a significant stake in Vaca Muerta, plans to invest $2.5 billion in its Los Toldos II project. Full production is expected by mid-2027.

Tecpetrol, the prominent Argentine oil company, announced plans to delay seeking new market financing until the economic situation stabilizes, revealed CEO Ricardo Markous on Monday.

Despite earlier securing financing at a 7.5% rate, Tecpetrol, which controls a substantial portion of the nation's shale gas production, is cautious about expanding its investments in Argentina's Vaca Muerta, home to the world's second-largest unconventional gas reserve. The firm aims to pour $2.5 billion into its Los Toldos II project.

Markous shared that two Nabors drilling rigs are expected to arrive between late 2025 and early 2026 to aid in achieving a target production of 70,000 barrels per day by mid-2027.

(With inputs from agencies.)