Pampa Energia to invest around $1.6 billion in Argentina's Vaca Muerta through 2026
BUENOS AIRES, May 13 (Reuters) - Pampa Energia expects to spend around $1.6 billion through the end of next year to develop oil production at the sweeping Vaca Muerta shale formation in Argentina, the firm said on Tuesday.
Pampa is betting heavily on its reserves at the Rincon de Aranda deposit in Vaca Muerta, with the earmarked funds representing the firm's largest-ever investment in a project, CEO Gustavo Mariani said in the firm's first-quarter presentation to investors.
The Argentine energy firm currently puts out 6,000 barrels per day (bpd) from the site, it said in a statement. In the coming months, that should reach 20,000 bpd and by 2027 will come up to 45,000 bpd, Pampa added.
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