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Fluxus, the Oil Company of the Batista Brothers, Debuts in Vaca Muerta After Official Authorization in Neuquén. The Plan Includes US$ 21.3 Million, Reactivate 54 Wells by 2027, Modernize the LPG Plant, and Abandon 76 Wells Without Viability.
The province of Neuquén formalized, on Tuesday, August 19, 2025, the transfer of exploration concessions to Fluxus, the oil company of the J&F group, in areas previously operated by Pluspetrol. This is the missing step for the company to start operations in one of the most strategic basins in Argentina. According to the provincial government, this marks the entry of a new operator in the Neuquina Basin, with an expectation of quick adaptation.
The authorization covers the conventional assets of Centenario I and II and the non-conventional concession of Centenario Centro, which is part of the Vaca Muerta hub. The agreement reached with the province details operational and investment commitments that begin to reshape Brazilian presence in the Argentine upstream.
According to local authorities, the decision concludes a process that has been prepared over months and is now materialized with the presence of Fluxus in Neuquén. The official communication highlights that the company presented a work plan capable of accelerating the start of activities.
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Million-Dollar Investment, Wells, and LPG: The Approved Work Plan
The understanding includes an initial investment of US$ 21.3 million intended for the reactivation of 54 wells between 2026 and 2027, as well as the abandonment of 76 wells that do not present economic viability. The package also includes maintenance of existing facilities and strengthening of local infrastructure to reduce operational bottlenecks.
An important technical point is the enhancement of the turboexpander plant in Centenario Centro for local LPG processing, a measure that tends to optimize costs and diminish logistical dependencies. The modernization of this unit is seen as a lever to elevate the overall efficiency of the project in the initial phase.
Regional sources indicate that Fluxus is expected to start operations as early as 2025, taking advantage of the post-authorization period to execute a quick transition, as the company has prepared in advance with studies and field plans. The official signal is that the adaptation will be swift and that the reactivation schedule will guide the first public milestones of the project.
Who is Fluxus, from J&F, and Why Entering Neuquén is Strategic
Fluxus is the oil and gas platform of J&F, a Brazilian conglomerate that has been increasing its presence in the energy sector in South America. In June 2024, the company completed the acquisition of Pluspetrol Bolivia, taking over three gas fields in the Tarija-Chaco Basin and associated infrastructure, a move that accelerated its learning curve and regional scale.
After the acquisition, Fluxus began discussions with the state-owned company YPFB to evaluate opportunities for upstream reactivation and new exploratory fronts, signaling a combined strategy of organic growth and M&A. This experience is an important asset when entering Neuquén, where the company will operate in a competitive and technology-intensive environment.
In a recent communication, executives and authorities emphasized that the company arrives to invest heavily, resume production, and recover wells, both in conventional assets and in the non-conventional realm of Vaca Muerta. The local reading is that the diversity of the portfolio can help dilute operational risks in the initial phase.
Why Vaca Muerta Matters to Brazil and the Region
Vaca Muerta is recognized as the second-largest non-conventional gas reserve and the fourth-largest non-conventional oil reserve in the world, with industrial-scale projects and production incentive policies. For the Brazilian reader, this means geographical proximity to a hub capable of influencing flows of LPG, natural gas, and derivatives, with effects on supply chains and services.
The entry of a Brazilian company into the Neuquina Basin reinforces regional energy integration. In theory, there are synergies between operations in Bolivia and Argentina, which can facilitate capital allocation, sharing of know-how, and logistics. Nevertheless, it is prudent to treat these synergies as potential and not as a promise, since they depend on licenses, technical execution, and the macroeconomic environment.
For Argentina, the arrival of a new operator amid the exit or rotation of assets by multinationals adds capex and expertise to local projects. For Fluxus, Neuquén offers a scale laboratory in shale and tight, with learning curve gains that can be replicated in other Latin American markets.
Risks and Safeguards: Licenses, Execution, and Responsible Abandonment
The main risks in the initial phase include environmental management in areas with an operational history, the execution of the reactivation plan for 54 wells within the expected timeframe, and operational safety in the abandonment of 76 wells. The agreement approved by Neuquén specifies the need to comply with technical standards and local obligations, an essential condition to sustain production throughout the project cycle.
There are also macro and regulatory variables that can affect timelines, such as currency restrictions, equipment availability, and service dynamics. The modernization of the turboexpander plant for LPG acts as an operational mitigator, but it will depend on engineering, supply, and commissioning timelines.
In the short term, the most observed milestones will be the signing of service contracts, the reports of the effective start of operations, and the progress of the 2026–2027 schedule for reactivation. Additional portfolio movements in Neuquén may occur, but there have been no formal announcements regarding new areas.
PT. TA COMPRANDO TUDO.
****….tudo com nosso suor
Os bozolinos esquecem ou não sabem que o mito vendeu três refinarias pela metade do valor de mercado e a quarta já estava engatilhada não fosse a vitória do nine como dizem; que desmontou o esquema dos presentes do Sheik. Diga-se cavalo dourado, colares e relógio. Agora querem falar de esquemas do PT. Francamente .
Os amigos do rei continuam a se beneficiar dos milagres do BNDES , alem de escapar das punições que viraram fumaça junto com a Lava Jato.
Esqueceu que foi no governo Nine que colocou a Dilma como ministra que deu aval para a negociação com a refinaria Passadena, e no govetno dela compraram a Petrobras tomou um grande prejuízo