Project Profile
Value: US$550 million
Location: Neuquén basin, Argentina
Area: 187km2
Reserves: 14,700 millions of oil barrels
The La Amarga Chica field covers an area of 187km2 and is located in the Vaca Muerta formation, at the Neuquén basin. It contains shale and wet gas with reserves of 14,700 millions of oil barrels. The field was awarded in 2012 through a tender launched by Argentina\'s Neuquén province to a UTE formed by YPF (70%) and Petrolera Argentina (20%). Gas y Petróleo del Neuquén (G&P) kept a 10% stake. In 2013, YPF acquired Petrolera Argentina\'s ownership, reaching a 90%. Following the acquisition of G&P stake in La Amarga Chica, YPF became the 100% owner of the block\'s exploitation license. In August 2014 YPF signed a US$550 million agreement with Petronas to develop shale-oil reserves in the massive Vaca Muerta formation, at the La Amarga Chica oil field. Under the agreement YPF ceded a 50% stake to Petronas. YPF and Petronas plan to drill more than 900 wells in La Amarga Chica, where YPF will be the operator.
Operators:
YPF: 50% interest
Petronas: 50% interest