YPF to invest $550 mln in Argentina block

Argentina

RíO NEGRO, August 22, 2018 – Argentine NOC YPF has committed to investing more than USD 550 million in the Fernández Oro block through 2022, local media reported Tuesday.

YPF president Miguel Ángel Gutiérrez signed agreements with officials from the Río Negro province, outlining plans to drill 93 wells and raise hydrocarbons production by 25-30%. The company will also upgrade oil and gas facilities at the block.

Fernández Oro currently produces around 3.55 mcm (125 mcf) of gas per day. Further development there is expected to also target unconventional resources.

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