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YPF, Petrona Sign Agreement to Invest US$ 2.3B in Vaca Muerta
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YPF and Petronas agreed this week to invest US$ 2.3 billion in a shale oil project in Vaca Muerta, with a target of reaching 60,000 b/d of oil equivalent by 2022.
The company said "The initial target is to ramp up output to 60,000 boe/d from the current 9,800 boe/d, after which the companies plan to invest an additional US$ 4.7 billion over a 20-year period to reach plateau output of 75,000 boe/d".
“In 2019 alone, YPF and Petronas will double the production from the La Amarga Chica block to 20,000 b/d,” Energy Secretary Javier Iguacel said.
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