Exxon CEO Says Argentine Shale Project May Top $10 Billion
- Plan for Vaca Muerta full development would span 20-30 years
- Co. will start pilot project in the coming months: Tillerson
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Exxon Mobil Corp. may invest more than $10 billion as it transplants the U.S. shale-drilling model to Argentina’s Vaca Muerta region in the next few decades, Chairman and Chief Executive Officer Rex Tillerson said Thursday.
The oil giant has so far invested $200 million in the world’s second-largest shale gas deposit and plans to invest another $250 million in coming months on a pilot project, Tillerson said after meeting with Argentine President Mauricio Macri in Buenos Aires.