Chevron Argentina, a subsidiary of US-based oil multinational Chevron, has announced plans to invest $500m (125.94bn pesos) to develop the El Trapial block in Neuquen, a province in central Argentina. The initial three-year stage involves $65.7m to drill, complete and commission five horizontal wells of between 2,500m and 3,000m and 38 to 46 frack stages each.
The company will also invest $13m in infrastructure, and plans to commence the investment at the 283km² El Trapial block before the end of July 2023.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Chevron Argentina is the eighth-largest producer of oil in the country, and the company is exploring for unconventional oil and gas resources in the Vaca Muerta Shale area of the country.
