GeoPark applies to join RIGI with a USD 1+ billion investment project to develop an oil hub in Vaca Muerta

The Company is integrating its two Neuquén Basin blocks to increase current production more than tenfold within three years 

GeoPark, together with Gas y Petróleo del Neuquén (GyP), submitted an application to join RIGI to support the development of its unconventional oil hub in Vaca Muerta. Through an investment of more than USD 1 billion in the Loma Jarillosa Este (LJE) and Puesto Silva Oeste (PSO) blocks, the Company aims to scale production from 1,500 to 20,000 barrels per day over the next three years. 

The project seeks to accelerate the development plan GeoPark is already executing in Vaca Muerta by providing greater predictability and scale for its long-term investments. The proposal integrates both blocks under a VPU (Spanish acronym for Single Project Vehicle) and includes factory-style drilling of horizontal wells, the construction of a Central Processing Facility (CPF) in PSO to process combined production, as well as shared transportation and evacuation infrastructure. 

“Vaca Muerta is a strategic priority for GeoPark. We already have an active development plan and blocks with proven potential. We are applying to RIGI because it strengthens the reach of an investment of this scale. This is exactly what the framework was designed for and reflects the alignment between the National Government, the Province and the private sector to advance the development of both the basin and the country. We aim to establish ourselves as a long-term player in Neuquén, focused on disciplined execution and value creation for the Province,” said Ignacio Mazariegos, Director of GeoPark’s Argentina Business Unit. 

In March, the Company began drilling its first wells in LJE. With an estimated investment of between USD 80 million and USD 100 million in 2026 for the block’s development, GeoPark’s objective is to scale its production in Argentina from the current 1,500 barrels of oil equivalent per day (boepd) to between 5,000 and 6,000 boepd before year-end.

With this application to join RIGI, GeoPark marks another milestone in the accelerated and efficient development of its Vaca Muerta blocks and reaffirms its long-term commitment to contributing to Argentina’s energy development.

ABOUT GEOPARK

GeoPark is an independent oil and gas company with more than two decades of successful operations across Latin America and listed on the New York Stock Exchange since 2014. In Colombia, it has established itself as one of the leading companies in the sector. Since its foundation, GeoPark has operated under its integrated SPEED Value System (Safety, Prosperity, Employees, Environment and Community Development), reflecting its commitment to sustainability across all the territories where it operates.

Learn more about GeoPark through its official channels:LinkedIn, Facebook, YouTube y página web. For inquiries, please contact conexiones@geo-park.com.

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About RIGI 

RIGI is a regulatory framework established by the Argentine government, in coordination with provincial authorities, to attract large-scale investments in strategic sectors, including oil and gas, mining, renewable energy, infrastructure and technology. “The minimum investment required for upstream oil and gas projects is USD 600 million.

The regime, in force since Resolution 1074/2024, provides regulatory stability, tax, customs and foreign exchange benefits, as well as legal protection mechanisms and long-term rules. Applications are reviewed by an interministerial evaluation committee under the authority of the Ministry of Economy, which issues the final viability decision.

As of May 12, media outlets have reported the formal submission of 36 RIGI applications totaling more than USD 100 billion, of which 15 projects have already been approved by Argentina’s Ministry of Economy.

For more information about RIGI, click here.