Pluspetrol

Meanwhile, the administration approved over $27 billion in private industrial projects through its large investment incentive regime, known as RIIBE.

On Friday the 2nd, the Economy Ministry greenlit a $12 billion non-conventional oil and gas venture in the Vaca Muerta shale basin, led by energy firm PlusPetrol and provincial gas company Gas y Petróleo del Neuquén.

The companies plan to drill over 600 horizontal wells and construct export pipelines in the Patagonian province of Neuquén.

The government also approved a $4 billion copper extraction development by Swiss mining giant Glencore in the northwestern province of Catamarca, as well as a $1.3 billion factory expansion by Japanese automaker Toyota in Zárate, Buenos Aires Province, to build Argentina's first fully electric vehicles.