The new spending strategy is expected to begin before July 2023.
In April 2022, Chevron was awarded the 283-square-kilometre concession in the western Neuquen province.
The American energy giant had previously planned spending of almost USD 80 million for the pilot phase of the project.
The Vaca Muerta basin holds the world’s fourth-largest shale oil reserves and the second largest shale gas reserves.
ExxonMobil has made a discovery in the Angolan deepwater, the country's energy regulator announced on Monday Read More
TechnipFMC has been awarded an EPCI contract worth up to USD 250 million by Woodside Energy to fabricate and install… Read More
Hungarian refiner Mol Nyrt has inaugurated a USD 1 Read More
Mubadala Energy has made a major deepwater gas find off Indonesia with a potential of at least 56 Read More
Kuwait Petroleum Corporation (KPC) has renewed a contract to supply 300,000 bopd to Unipec, local media reported on Monday Read More
Eni is considering spinning off new satellite companies for high-investment oil and gas projects, including ones in Indonesia and Côte… Read More
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