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YPF strikes Vaca Muerta deal with Petronas

The two companies are to jointly invest in a pilot project

Argentina’s state-owned oil company YPF and Malaysia’s Petronas have agreed a deal to jointly invest up to $550 million in a pilot development project in an area of the Vaca Muerta shale, YPF has said in a statement. The companies will jointly develop the 187 square km La Amarga Chica Block, located in the oil-rich eastern section of the Vaca Muerta shale formation in Argentina’s Neuquén province. The initial pilot programme will last three years, with Petronas covering most of the early spending. Of the $550m in expected spending, Petronas will contribute $475m with YPF covering the remaining $75m. Petronas has the option to exit the project during the pilot stage, but if it stays on it w

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