Argentina's YPF Says To Study Offshore Drilling With Statoil

Reuters

BUENOS AIRES, Oct 28 (Reuters) - Argentina's state-controlled energy company YPF said on Friday it signed a deal with Norway's Statoil to study potential offshore drilling sites off Argentina's Atlantic coast.

Argentina has vast oil and gas reserves that have gone untapped, in part due unpredictable policies and cyclical crises over recent decades. The country's new president vows to normalize the economy and attract investment.

The seismic tests will be undertaken in waters of 500 to 3,500 meters.

"For YPF and Statoil, access to new information will be fundamental to understanding the area's potential," YPF said in a statement.

Energy companies around the world have curtailed exploration and investment due to a more than 50 percent decline in the price of crude since mid-2014.

(Reporting by Walter Bianchi; Editing by Tom Brown)

Copyright 2016 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

From the Career Center
Jobs that may interest you
GIS Intern Job
Expertise: Cartography / Mapping|Landman|Modeling
Location: Eau Claire, WI
 
Chemicals, Sales Account Manager, Oil & Gas - Midland - Odessa TX
Expertise: Business Development|Marketing|Sales
Location: Midland, TX
 
Core Analyst II
Expertise: Geoscience Technician|Laboratory Ops / Tech
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $53.89/BBL 1.67%
Light Crude Oil : $50.84/BBL 2.14%
Natural Gas : $3.7/MMBtu 2.77%
Updated in last 24 hours