00:15 GMT07 June 2020
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    Russia Holds Its First Eastern Economic Forum (44)
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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.

    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.

    Russia Holds Its First Eastern Economic Forum (44)


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    oil exploration, Eastern Economic Forum, YPF, Gazprom, Argentina, Russia
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