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Argentina and US energy partners sign $500 million shale deal
- 8 years ago (2016-01-16)
- Junior Isles
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.
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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.