The companies have together committed to investing USD 520 million through 2023 in the block, to develop shale gas from the Vaca Muerta play and tight gas from the Mulichinco formation.
According to Pampa Energía, the 864-square-kilometre area is already producing 1.3 mcm (45.9 mcf) of gas per day through 69 active wells.
Pampa Energía will operate the block with a 45.6% stake, while ExxonMobil and Total will hold 51% and 3.4%, respectively.
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