In the aftermath of the deal, the presidency said the deal “is the result of several months of responsible dialogue”, adding that the approach brought together entities from across the sector: YPF (Yacimientos Petrolíferos Fiscales, a state-owned oil company), Total, Pan American Energy, Chevron, Shell and Dow. “[The groups] established an investment target of 10 billion dollars per year, the trade unions have committed to improving organisation and production to improve efficiency, and we the government – as well as the province of Neuquén – will commit resources to our roads and railways to improve logistics,” the presidency continues, underlining that “each party had to give up something to improve the overall situation, and the result is a success”.
Argentina: government, companies and unions strike deal to maintain jobs in southern oil field Vaca Muerta, an agreement hailed as an example to follow by President Macri
Following lengthy negotiations and a period marked by strike action as well as dismissals, the Argentinian government and the oil sector trade union announced an unprecedented deal regarding the Vaca Muerta oil field. The oil field is located in the south of the country, close to the border with Chile, and contains oil and shale gas formations. The agreement, reached on 10 January, proposes state subsidies for more flexible working arrangements, boosting productivity and attracting sizeable investment from abroad. The centre-right president, Mauricio Macri, hailed the deal as a “true revolution” for labour and signalled his desire to extend the approach to other sectors.
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