The energy sector is among Argentina’s top performers
Mergers and acquisitions in Argentina grew 7% in 2025 and reached $5 billion. This growth was driven by projects such as Vaca Muerta, as technology, oil and gas were the most prominent sectors in the first nine months of the year, according to a report by Aon, a global professional services firm, in partnership with TTR Data and Datasite.
The report found that Argentina recorded 180 M&A transactions between January and September 2025, with a total value of $4.97 billion. Among the standout deals were YPF’s $500 million purchase of stakes in Vaca Muerta and Pluspetrol’s $115 million acquisition of GeoPark assets.
“In Argentina, the dynamism of sectors such as energy and technology is positioning the country as an increasingly attractive market in the region,” said Carlos Dorado, leader of M&A and Transaction Solutions for Hispanic South America at Aon. “This evolution reflects a more sophisticated investment environment, with better-structured transactions and sustained interest from foreign capital.”
Improvements in the macroeconomic outlook and expectations of normalization are fueling greater M&A activity. In Argentina, natural gas accounts for 53% of the energy mix and oil for 31%. While the country represents just 1.5% of global oil production, it holds strong medium-term potential.
Argentina ranks fourth worldwide in technically recoverable shale oil resources and second in shale gas. Vaca Muerta has reshaped the country’s energy landscape, establishing it as a key producer of unconventional hydrocarbons.