Investors - JUNE 28, 2017

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Pan American Energy to invest $1.2b in Argentina in 2017

by Andrea Waitrovich

Argentina-based Pan American Energy, a unit of BP, will invest approximately $1.2 billion in the South American country this year, a company spokesman said on Tuesday, Reuters reports.

About $400 million of the 2017 investment plan is destined for oil and gas exploration in the sprawling Vaca Muerta shale formation in Argentina’s southern Patagonia region.

The 2017 investment plan is smaller compared with the $1.4 billion that the company had announced for 2016.

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