YPF & Petronas Begin $2.3B Development Plan in Neuquen

YPF and Petronas ratified the start of the massive development phase of the shale oil project that they are carrying out in the La Amarga Chica block, Neuquen province.

For the next 4 years, both companies plan to invest more than 2,300 million dollars, which constitutes the second largest direct investment of YPF for the development of unconventional in Argentina. The goal is to reach by 2022 a production of 60,000 barrels of oil equivalent per day. The project contemplates a development that could involve an investment of up to 7,000 million dollars until the completion of the project and reach a production level of 75,000 barrels equivalent.

In this way, the Bitter Girl becomes the third project that the company manages to pass to the stage of massive development, after Loma Campana and El Orejano.

"We are proud of the solid relationship we have established with Petronas throughout the three pilot phases, in which we exceed the proposed objectives. This same link, along with the knowledge and experience acquired in the block, is what guarantees success in the stage we are announcing the phase of massive development of La Amarga Chica "said Miguel Gutierrez.

From the first well drilled in May 2015, the pilot project of La Amarga Chica went through three phases demanded a joint investment of $ 550 million. 33 wells were specified and a production of 9,800 boe per day was reached.

This new milestone in the The unconventional development of the country was formalized in a meeting that was attended by the representatives of both partners of UT La Amarga Chica.