Shell has struck a preliminary deal with Argentina’s YPF to develop a shale field in the South American country.
Shell will invest $300million in two phases, YPF said on its website.
The companies expect to firm up the deal in the next two months.
They will join forces to develop a pilot programme in the Bajada de Anelo field, located northwest of Loma Campana.
Shell Argentina President Teófilo Lacroze: “Shell has demonstrated excellent results in the exploration of non-conventional, and has great interest in the local oil and gas market.
“In collaboration with YPF, we hope to improve our knowledge of the Vaca Muerta formation and deepen our contribution to the development of the energy potential of our country.”
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