Project Profile
Location: Neuquén Basin, onshore west-central Argentina
Value: US$270 million
Area: 157 sq. km (38,800 acres)
Start-up Year: -
YPF and Statoil have signed a definitive agreement to explore and develop Bajo del Toro in the Vaca Muerta shale. Statoil will handle the investment, which includes paying US$30 million to YPF when the project starts and investing US$270 million in drilling.
The programme calls for an initial two horizontal wells in the first phase of the project, followed by six more in the second phase, plus related infrastructure. YPF expects to extract light crude from the block.
Bajo del Toro is Statoil's first onshore project in Argentina and its second in the country.
Operators:
YPF (Yacimientos Petrolíferos Fiscales): Operator with 50% interest
Statoil: 50% interest