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By: Caroline Stauffer and Luc Cohen
Investments of between $6 billion and $8 billion in Argentina's Vaca Muerta shale field have been confirmed in 2017, Energy and Mining Minister Juan Jose Aranguren said on Wednesday.
The country expects between $12 billion and $15 billion in investments in 2018 and $20 billion annually from 2019 onward, he said. Aranguren and President Mauricio Macri sought to woo oil executives in meetings in Houston ahead of Macri's trip to Washington to meet with President Donald Trump.
Roughly the size of Belgium, Vaca Muerta is one of the world's largest shale gas reserves but has remained mostly undeveloped due to high production costs and a lack of labor flexibility.
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