Shell to invest $1.5 bln in Argentina

NEUQUÉN, April 2, 2018 – Shell will direct another USD 1.5 billion towards its Sierras Blancas-Cruz de Lorena block in Vaca Muerta, local media reported over the weekend.

The super-major plans to start the new investments in Q3 to push the block into a commercial development phase, raising production from 4,000 bopd in 2018 to at least 40,000 bopd in 2020. The plans involve a drilling campaign and the construction of a new crude processing plant.

The investment commitment was finalised during a meeting between Shell executives and Neuquén province Governor Omar Gutiérrez, who was touring the USA to drum up more support and investment to expand the development of Argentina’s shale resources.

Read our latest insights on: