YPF, Dow To Invest $400 Million-$500 Million In Argentina Shale In 2016--Source
December 15 2015 - 9:41AM
Dow Jones News
By Taos Turner
BUENOS AIRES--Argentina's state-run oil company, YPF SA, and Dow
Argentina, the local unit of Dow Chemical Co., plan to invest
between $400 million and $500 million to explore for shale gas, a
person familiar with the matter said Tuesday.
The companies, which are already involved in a joint venture,
are expected unveil details of the plans after meeting with
Argentine President Mauricio Macri later Tuesday, this person
said.
The transaction will represent the first significant foreign
investment in Argentina since Mr. Macri took office last week. His
administration is seeking to dismantle key policies of his
predecessor and boost investor confidence in a bid to kick-start a
moribund economy.
The joint venture between the companies is the leading shale gas
project of its kind in Argentina, with production of about 750,000
cubic meters a day. The aim is to triple that next year, raising it
to about 2 million daily, this person added.
Write to Taos Turner at taos.turner@wsj.com
(END) Dow Jones Newswires
December 15, 2015 09:26 ET (14:26 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
YPF Sociedad Anonima (NYSE:YPF)
Historical Stock Chart
From Mar 2024 to Apr 2024
YPF Sociedad Anonima (NYSE:YPF)
Historical Stock Chart
From Apr 2023 to Apr 2024
