YPF & PETRONAS AGREE
Argentina's YPF SA and Malaysia's Petroliam Nasional Bhd. will sign an agreement on Thursday to develop shale oil in Argentina's massive Vaca Muerta formation, people familiar with the matter said.
The deal will entail an initial investment of more than $500 million. If it is structured similarly to a joint venture the Argentine company signed last year with Chevron Corp., state-run YPF and Petronas could invest up to $9 billion over the next decade to develop the full potential of La Amarga Chica, an oil field within Vaca Muerta. The 72-square-mile field is in remote, windswept Patagonia.
YPF's deal with Chevron…
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