TotalEnergies invests 9 billion euros in Argentina’s energy sector
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Published on 10/01/2026 at 05:01 pm EDT Copyright © BusinessAMBE 2023 Key takeaways During a conference in Paris , Patrick Pouyanne, the CEO of TotalEnergies , announced that the French energy giant plans to invest nearly 9 billion euros in various initiatives in Argentina . New wells and gas operations Those funds will be spent on several projects, in particular the development of new wells in Tierra del Fuego and the expansion of gas operations in Neuquén. Pouyanne noted that expenditure over the coming decade is expected to range between 3.5 and 4.5 billion euros, as the company seeks to increase its daily production to 16 million cubic metres. Ambitious growth targets The company, which currently supplies around 25 per cent of Argentina's natural gas, has outlined ambitious growth targets for its investors. TotalEnergies is aiming for an annual increase in energy production of 4 per cent up to 2030, followed by an expected rise of 2 to 3 per cent in oil and gas production from 2030 through to 2035. Diplomatic ties The announcement coincides with President Javier Milei's diplomatic visit to France, where he is actively seeking international investment. As part of his agenda, a meeting with President Emmanuel Macron is scheduled, to highlight the lucrative prospects in the infrastructure, mining and energy sectors. Vaca Muerta A key driver of that interest is the Vaca...
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