The Government of Neuquén reached an agreement with 13 oil companies to finance road infrastructure works for USD 154 million in strategic corridors linked to Vaca Muerta, amid the strong growth of oil and gas production from the unconventional formation.
The program includes paving and repaving works over 166 kilometers of provincial routes 7, 8, and 51, which are intensively used by hydrocarbon activities. The goal will be to improve connectivity for the main towns in the basin and adapt the infrastructure to the increase in traffic associated with new investments.
The companies participating in the scheme are YPF, Chevron, Pampa Energía, Pan American Energy, Phoenix Global Resources, Pluspetrol, Shell, Total Austral, Vista Energy, GeoPark, Tecpetrol, Harbour Energy, and Continental.
Financing will be carried out through advances on oil royalties, which will be provided by the operators and allocated to a trust fund. According to the Chamber of Hydrocarbon Exploration and Production (CEPH), each company's contribution will be calculated based on its participation in the unconventional production of the Neuquén basin and its corresponding tax obligations.
The governor Rolando Figueroa explained that, although the works will be the responsibility of the province, the scheme will allow financing their execution through advance contributions from the companies and the use of tolls.
