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YPF & Petronas Confirm the Continuity of Shale Oil Project

Source: www.gulfoilandgas.com 11/23/2016, Location: South America

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YPF and Petronas, through its subsidiary Petronas E & P Argentina SA, confirmed the continuity of the shale oil pilot project, which both companies started in 2015 in La Amarga Chica, province of Neuquen. The decision to move to the second stage was made possible thanks to the good results obtained in the first phase.

The agreement was signed at the offices of YPF in Buenos Aires and was attended by the Vice President of Strategy and Development of Business of the company, Fernando Giliberti, and the vice president of Petronas International and president of the Argentine E & P division of The company, Chen Kah Seong.

The first phase of the pilot project was carried out between May - September of this year. It contemplated the drilling and Production of 9 wells, the construction of surface facilities and the realization of 3D seismic in the whole block. Total investment Amounted to US $ 165 million.

For this new stage, both companies contemplate the drilling of 10 Horizontal wells and the construction and completion of new works and Facilities for transporting the production of shale oil, which is obtained Deposit. The second phase will require a total investment of US $ 192.5 millions.

La Amarga Chica is a block located in the province of Neuquen with a surface of 187 km2, characterized by its wealth and potential in shale oil.

YPF and Petronas are equal partners in this pilot project.

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