Chevron CVX plans to increase oil production in Argentina’s Vaca Muerta shale formation to 30,000 barrels per day by the end of the year, the company’s Argentina country manager Ana Moneto said on Tuesday.

Speaking at the Argentina Oil and Gas conference in Buenos Aires, Moneto highlighted the quality of Vaca Muerta, one of the world’s largest unconventional oil reserves.

However, she said Argentina must attract new investment to fully develop its potential.

“The regulatory environment must be more stable and predictable, allowing for capital movements, which will be critical in the long term, respecting existing investments, keeping costs competitive and maintaining free market policies,” she said.
Source: Reuters