Petronas: $ 2.3 billion investment in shale oil fields-Argentinean Baca Muerta Block

Petronas: $ 2.3 billion investment in shale oil fields-Argentinean Baca Muerta Block

Buenos Aires

March 20, 2019

Petronas: Baca Muerta Block, Argentina

On March 12, with the state-owned Argentine YPF, we signed a $ 2.3 billion investment agreement for the next four years in the shale field of the Baca Muerta Block.

We will establish a joint venture with YPF and aim to produce shale oil equivalent to 60,000 barrels a day by 2022.

Argentine National YPF:

In this project, YPF will achieve a 30% increase in oil production by 2022 and aim for a daily production of 75,000 barrels.

YPF is developing a project in 3 mining areas.

Amarga Tika Block,

Roma Kampana Mining District,

El Olejano Block

Drilling started at the Amarga Tika Block in 2015, and production of 9,800 barrels has been confirmed so far.

US Energy Information Agency (EIA):

The Baka Muerta Block is the second largest shale gas in the world and the fourth largest shale oil in the world.

-JETRO

https://www.jetro.go.jp/biznews/2019/03/262f82d3dba94c2b.html