Its plans include a $900 million investment in Golfo San Jorge - mostly in the province of Chubut, where it operates the country's biggest oilfield - and $300 million in the shale-gas-rich province of Neuquen, the company said.
Pan American started exploring for unconventional oil in Neuquen in 2011 and develops shale gas there.
The company has reported a 34% increase in its oil output in Argentina from 2001 and 2015, bringing it to 108,000 barrels per day.
