Saturday, December 4

YPF and Equinor will invest US $ 117 million in Vaca Muerta


Additionally, companies reported that will contribute an additional US $ 3 million that will be used for the repaving of a section of provincial route 5, in the concept of Corporate Social Responsibility.

The investments contemplate the division of the current block into two areas. On the one hand, Bajo del Toro Norte (113.8 Km2), where the pilot project will be carried out, and on which both companies requested from the Neuquén government an Unconventional Exploitation Concession for 35 years.

AND Bajo del Toro Sur, with a remnant of 43 square kilometers, on which a second exploratory period of four years has been requested, which includes the drilling of a vertical well and estimated investments in u $ s3 million.

In case the pilot in the area Bajo del Toro Norte show positive results, both companies would consider moving forward with the massive development of the area by investing in wells and associated facilities, they said.

YPF Equinor Neuquen Affronti Alvarez Gutierrez.jpg

YPF

Nidia AlvarezEquinor’s country manager in Argentina, described the initiative as “a very important milestone” for companies and the development of hydrocarbons in the country. “Bajo del Toro is the asset that allowed Equinor to arrive in the country. Being able to advance to the development stage shows that we have a world-class asset that will allow us to generate the energy that the country needs efficiently and with low emissions “, stressed the directive.

The CEO of YPF, Sergio Affronti, assured that the “new concession” in partnership with Equinor brand “The beginning of a development within the Vaca Muerta oil window in the north of the province and a new productive pole in that area.”

Both directors highlighted the importance of joint work and the relationship with the province of Neuquén. “We have to accelerate the development of Vaca Muerta based on the great progress in efficiency we achieved this year that will allow us to be competitive worldwide”, Afftonti stressed.



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