RIGI: more time and more sectors

Neuquén It reconfigures precisely the subsector that most affects Vaca Muerta (onshore oil and gas, USD 600 M floor for new developments) and stretches the adhesion window by a year: more time for Neuquén projects to join the RIGI → more firm megaprojects → more demand for suppliers and satellite services. favorable stability → long-term investment thesis

Salta This is the federal reform that most decides Salta's future, and it has a date: Decreto 105/2026 extended the filing deadline to 08-07-2027, and it is the only extension Ley 27.742 allows. Taca Taca — USD 5,250 M declared, more than the province's entire approved RIGI portfolio combined (USD 4,055 M across three projects) — has NOT filed an application, and Pozuelos-Pastos Grandes is filed without a Committee decision. Salta's nine quantified niches are annualized over the 2026-2029 window of firm capex, which excludes copper: if copper enters before that date, the services market changes by an order of magnitude; if it does not, the construction demand peak stays capped at lithium and gold. This is a falsifiable prediction with a date, not an expectation. favorable stability → long-term investment thesis