Malaysia's Petronas Eyes Investment In YPF's Shale Field In Argentina

Article title
YPF has signed a memorandum of understanding for Malaysian energy company Petronas to invest in its massive Vaca Muerte shale formation.

Reuters

BUENOS AIRES, 18 Feb (Reuters) - Argentine state-run oil company YPF said Tuesday that it had signed a memorandum of understanding for Malaysian energy company Petronas to invest in its massive Vaca Muerte shale formation.

Under the preliminary agreement, the companies would jointly develop a 187-square-kilometer (72-square-mile) swath of Vaca Muerta in the southern Patagonia region, YPF said in a statement.

YPF, which was nationalized in 2012 through a seizure of Repsol's majority stake in the company, has been seeking international partners to help it develop Vaca Muerta.

Vaca Muerta is considered one of the world's biggest known deposits of unconventional energy, with 661 billion barrels of oil and 1,181 trillion cubic feet of natural gas resources, according to YPF.

(Reporting by Alejandro Lifschitz; Editing by Lisa Von Ahn)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours