The businessman also reaffirmed the company's commitment to the development of Vaca Muerta.
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The CEO of Chevron, Mike Wirth, publicly praised the reforms promoted by the Government of Javier Milei and assured that the company remains committed to the development of Vaca Muerta.
The statements were made during the opening of CERAWeek, considered the most important event in the global energy industry, as part of an interview with Daniel Yergin, one of the most influential specialists in the sector.
In this context, Wirth not only analyzed Argentina's present, but also sent a clear signal about the company's strategic interest in the country.
Chevron CEO Mike Wirth
“The geology is great. Argentina's historic problem has been on the surface: the investment environment. There have been labor rigidities, restrictions on the import of equipment and the export of production, but under President Milei these obstacles are being addressed systematically and we are seeing real progress,” said
the executive.
Along these lines, he also highlighted the evolution of the business climate: “We are very satisfied with geology and we hope that, with these improvements in the environment, the country's production will continue to grow.”
In addition to assessing the macroeconomic and regulatory context, the CEO detailed the company's operational advances: “In Argentina, we restructure all our shale assets into a single operating organization, allowing us to move technology, best practices, people and experience more quickly between different basins.”
Javier Milei and Luis Caputo.
"We are applying technologies such as advanced chemicals to improve recovery, which we have already tested in Permian, and are transferring them to other areas. We are seeing good initial results. Everything indicates that we will continue to improve costs, efficiency and productivity across the portfolio,” he added.
Chevron has been present in Vaca Muerta since 2013, in partnership with YPF, focusing on the development of Loma Campana, the formation's main shale oil area. In turn, the company evaluates other projects such as El Trapial and Narambuena, which were reviewed in recent years as part
of a global restructuring.
Wirth's statements about the attractiveness of the Milei Government's economic plan, which promotes a more favorable investment scheme, focusing on the development of Vaca Muerta as an engine of economic growth and foreign exchange generation.
