October 2014, Vol. 241, No. 10


Argentina/Malaysia Strike Deal To Develop Shale Deposits

State-run Argentine oil company YPF SA has reportedly reached a deal with Malaysia’s Petroliam Nasional Bhd (Petronas) to develop deposits of shale oil and gas in the Vaca Muerta formation in Patagonia. YPF said the Malaysian state-owned oil company will provide $475 million of an initial investment totaling $550 million for a pilot phase scheduled to start early next year. In the pilot phase, the partners plan to drill more than 30 horizontal and vertical wells using hydraulic fracturing in a section of Vaca Muerta known as the Amarga Chica Block. The investment is expected to exceed $1 billion in the following stages over the next five years. Vaca Muerta, in the remote

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