YPF and AELP to invest $500 million in Argentina
BUENOS AIRES, January 15, 2016 – Argentinian oil company YPF and the US’ American Energy Partners will invest a shared USD 500 million in several projects in Argentina, according to a deal the companies signed Thursday.
Among the projects expected to be launched, the companies plan to invest in a new three-year project in the 200-sq.km Bajada de Añelo block on the Vaca Muerta formation. Vaca Muerta is the second-largest shale gas deposit in the world and has turned Argentina into the world’s second-largest shale producer behind the US.
Other projects include development of the 372-sq.km Cerro Arena. American Energy Partners plans to invest USD 60 million on the block.
“We intend to bring US-style shale drilling and operating expertise, completion techniques and cost structure to the Vaca Muerta,” the CEO of American Energy Partners, Aubrey K. McClendon, said.
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