Statoil and YPF team up in Argentina

Statoil and Argentina’s YPF have entered into an agreement to jointly explore hydrocarbons in the Bajo del Toro block in the Neuquén Basin, onshore Argentina.

Statoil will enter the Bajo del Toro exploration permit in the Neuquén Basin as a partner with a 50 percent participating interest, with the operator YPF retaining a 50 percent interest.

“This is a light oil exploration project in a world-class unconventional resource play, the Vaca Muerta formation. The opportunity has an excellent fit with Statoil’s sharpened strategy, and is in line with our exploration strategy of delivering profitable, high-quality resources,” says Statoil’s executive vice president for exploration, Tim Dodson.

Tim Dodson (right), Statoil’s executive vice president for exploration; and Sergio Giorgi, YPF’s vice president for business development and development engineering. (Photo: Grégory Maillot/Point Of Views)
Tim Dodson (right), Statoil’s executive vice president for exploration; and Sergio Giorgi, YPF’s vice president for business development and development engineering. (Photo: Grégory Maillot/Point Of Views)

Source: Statoil

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