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2018-12-05 09:20:00

VACA MUERTA INVESTMENT $2.3 BLN

VACA MUERTA INVESTMENT $2.3 BLN

PLATTS - Argentina's state-run energy company YPF and Malaysia's Petronas agreed Tuesday to invest $2.3 billion in a shale oil project in Vaca Muerta, with a target of reaching 60,000 b/d of oil equivalent by 2022.

The investment will be in La Amarga Chica, where the companies have been testing the shale oil potential since 2015 and have spent $550 million to date in the process, YPF said in a statement.

The initial target is to ramp up output to 60,000 boe/d from the…

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Tags: VACA MUERTA, ARGENTINA, PETRONAS, YPF, INVESTMENT

Chronicle:

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U.S. RIGS DOWN 10 TO 1,012

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