Petronas, Malaysia’s state-owned oil and gas company, has decided to pour 550 million USD into Argentina’s oil and gas sector.
The investment falls under an agreement reached between Argentina’s national oil and gas corporation, YPF, and Petronas.
The YPF is contributing 75 million USD to the project, which will see the exploration and exploitation of the Vaca Muerta field, a geological formation that boats huge deposits of tight oil and shale gas.
Argentina has huge oil and gas reserves, with around 27 billion of the world’s 345 billion barrels of oil.-VNA
The investment falls under an agreement reached between Argentina’s national oil and gas corporation, YPF, and Petronas.
The YPF is contributing 75 million USD to the project, which will see the exploration and exploitation of the Vaca Muerta field, a geological formation that boats huge deposits of tight oil and shale gas.
Argentina has huge oil and gas reserves, with around 27 billion of the world’s 345 billion barrels of oil.-VNA
