TotalEnergies Pledges $10 Billion for Argentine Energy Projects
TotalEnergies announced nearly $10 billion in Argentine energy investments as President Javier Milei claimed the government holds a $75 billion economic buffer.
French energy group TotalEnergies announced a project portfolio in Argentina valued at nearly US$10 billion during Argentina Week Paris on October 1, 2026. The investment plans include a US$1.5 billion offshore field in Tierra del Fuego called Alberdi, a US$4–5 billion gas expansion at Aguada Pichana in Neuquén province, and a US$5 billion shale oil project at San Roque.
TotalEnergies CEO Patrick Pouyanné credited the investment decisions to the Large Investment Incentive Regime (RIGI) and the ability to send dividends abroad. Economy Minister Luis Caputo reported that US$56 billion in projects are already approved under RIGI, with an additional US$150 billion awaiting approval.
Javier Milei, President of Argentina, told investors that the government possesses a "bazooka" of approximately US$75 billion in potential resources. He stated these funds would shield the economy from turbulence and destabilization attempts leading up to the 2027 presidential election. Despite these claims, private economists expressed skepticism, estimating that dollar demand in 2027 could reach between US$30 billion and US$35 billion.
