Argentina and US energy partners sign $500 million shale deal

• 9 years ago (2016-01-16)
• Junior Isles

North America 1061

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Argentina’s state-run energy firm, YPF, said on Thursday that it preliminarily agreed on a deal with American Energy Partners LP (AEP), to explore for shale gas in Argentina’s vast Vaca Muerta formation. The deal would be worth around $500 million over three years.

Argentina potentially has some of the world’s largest shale resources, although the country has been a net importer after years of under-investment.

YPF says the joint venture involves a pilot project in the Bajada de Anelo block, located in Argentina’s Neuquen province.

If the project continues, Pluspetrol and the province-owned Neuquen Oil and Gas will join the venture and add to exploration efforts in the southern zone of another block, Cerro Areno.