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Gazprom, YPF Energy Sign Deal on Joint Exploration in Argentina

© Sputnik / Vitaliy Ankov / Go to the photo bankConstruction of pipeline from GDS on Russian island
Construction of pipeline from GDS on Russian island - Sputnik International
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The Gazprom-YPF agreement defines the key principles of cooperation on hydrocarbon exploration and production in Argentina, according to the Gazprom statement.

Russian President Vladimir Putin's meeting with President of Argentina Cristina Fernandez de Kirchner - Sputnik International
Argentina Opens New Chapter in Relationship With Russia
VLADIVOSTOK (Sputnik) – Russian energy giant Gazprom and Argentinian energy company YPF ("Treasury Petroleum Fields") have agreed on joint exploration work on the territory of Argentina, a Friday Gazprom statement said.

The two companies signed a relevant agreement at the Eastern Economic Forum (EEF) currently underway in the Russian Far East city of Vladivostok.

The Gazprom-YPF agreement defines the key principles of cooperation on hydrocarbon exploration and production in Argentina, according to the Gazprom statement.

In late April, Gazprom and YPF signed a memorandum of cooperation. The document stipulates the main areas of the future bilateral cooperation, including exploration, production and transmission of hydrocarbons in Argentina and third countries.

A large oil and gas deposit in western Argentina's Vaca Muerta was discovered in 2011. The field is believed to possess one of the world's largest reserves of shale-based hydrocarbons.

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