Mayer Brown advises Chevron on $3 billion oil pipeline project in Argentina

Houston – Mayer Brown acted as international legal advisor to Chevron Argentina S.R.L., an affiliate of Chevron Corporation (NYSE: CVX) on its participation in the $3 billion crude oil export pipeline project, Vaca Muerta Sur. This project, announced on December 16, 2024, will be developed by VMOS S.A., with YPF S.A., Vista Energy Argentina S.A.U, Pampa Energía S.A., and Pan American Sur S.A. as initial shareholders. Chevron, Pluspetrol S.A. and Shell Argentina S.A. executed options to join as shareholders at a later date. Chevron’s exercise of its option rights to participate in the project is subject to obtaining all required internal corporate approvals. Another international law firm acted as project counsel to VMOS S.A.

The Vaca Muerta Sur project represents the most significant energy infrastructure project in Argentina in recent years. The pipeline will span 437 km, aiming to transport oil from the Vaca Muerta formation to a coastal export terminal in the Río Negro province. The project will initially allow for the transportation of up to 550,000 bbl/d, which could be increased to 700,000 bbl/d if necessary.

The Mayer Brown team was led by partners Pablo Ferrante, Gabriela Sakamoto and Jose Valera, and also included partners George Miller, Beth Vogel, David Weiss, and Michael Lennon; counsel Andrew Heather; associates Martin Gualino and Federica Castro; and foreign associate Yamina Centurión.

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