On February 19, 2026, Decree No. 105/2026 (the “Decree”) was published in the Official Gazette, extending by one year the deadline to apply for the Large Investment Incentive Regime (Régimen de Incentivo para Grandes Inversiones, “RIGI”) and introducing amendments to broaden its scope to include oil and gas extraction activities and the technology sector.
Specifically, the Decree amends Law No. 27,742 by extending for one year the deadline to apply for the RIGI, as from July 8, 2026. Consequently, investors may submit applications for inclusion in the regime until July 7, 2027.
With respect to the expansion of the regime’s scope, the Decree amends Decree No. 749/24 to incorporate the hydrocarbons sector, including the following segments:
- Construction of treatment plants, natural gas liquids separation plants, oil pipelines, gas pipelines and multi-product pipelines, as well as storage facilities;
- Transportation and storage of liquid and gaseous hydrocarbons;
- Petrochemicals, including fertilizer production, and refining activities;
- Production, capture, treatment, processing, fractionation and liquefaction of natural gas, and transportation of natural gas for export as liquefied natural gas (“LNG”), as well as the infrastructure works required for the development of such industry;
- Exploration and production of new onshore developments of liquid and gaseous hydrocarbons; and
- Exploration and production of offshore liquid and gaseous hydrocarbons.
The Decree establishes minimum investment thresholds for hydrocarbons projects, depending on their nature, as follows:
- USD 600,000,000 for onshore hydrocarbons production and natural gas production intended for export;
- USD 300,000,000 for hydrocarbon transportation and storage projects; and
- USD 200,000,000 for other projects.
Additionally, where activities covered by the RIGI coexist in the same area with activities not included in the regime, the Decree requires proper segregation through the implementation of an independent measurement system to ensure full traceability of the relevant flows.
The Decree also clarifies the rules applicable to project expansions, including minimum investment amounts and a redefinition of the concept of “expansion” in the Technology Sector.
Finally, it establishes a presumption that Single Projects carried out through Single Project Vehicles and aimed at the production and export of commodities do not generate distortions in the domestic market.
The Decree entered into force on the date of its publication.
