Malaysia's Petronas and YPF sign 550 million deal to develop shale deposits in Patagonia

Thursday, December 11th 2014 - 12:04 UTC

Full article 8 comments

YPF SA and Petroliam Nasional Bhd, state-controlled companies from Argentina and Malaysia, signed a 550 million dollars deal to drill fields at the world’s fourth-largest shale oil deposit in Patagonia’s Vaca Muerta, south Argentina. Read full article

Comments

Disclaimer & comment rules

yankeeboy
Kinda doubt they're going to drill to lose money.
Do Rgs think the rest of the world is as dumb as they are?
Dec 11th, 2014 - 01:20 pm - Link - Report abuse 0
-+
Rufus
Petronas aren't idiots, I'd imagine that there'd be some pretty impressive get-out clauses written into the agreement...
Dec 11th, 2014 - 01:23 pm - Link - Report abuse 0
-+
golfcronie
I would suggest that they are drilling for conventional oil as opposed to Shale oil and gas. Again this is a drop in the ocean. Have you seen the oil price at the moment, makes sense if for the domestic market, do they have refining facilities?
Dec 11th, 2014 - 04:00 pm - Link - Report abuse 0
-+
paulcedron
so, petronas, shell, chevron, dow, total, etc. in vaca muerta.
while in the islets we have...premier oil.
LOL

and the worst thing is they are cutting the investment.
Dec 11th, 2014 - 04:42 pm - Link - Report abuse 0
-+
golfcronie
Makes sense to me, you obviously have not seen the oil price, bound to affect investment, can't see PUTA MEURTE getting $ US 200 billion over 10 years can you, not working out very well is it?
Dec 11th, 2014 - 04:52 pm - Link - Report abuse 0
-+
chronic
Sure. Guess they don't have Bloomberg. lol. Doh, what means Merval? lol.
Dec 11th, 2014 - 08:08 pm - Link - Report abuse 0
-+
yankeeboy
Paul, You'll be long dead before you see anything substantial come out of Vaca Muerte. This oil drop is a disaster for Argentina. You'll end up having super high gas prices and very low (or none) exploration.
Disaster
Dec 11th, 2014 - 09:02 pm - Link - Report abuse 0
-+
golfcronie
Oh dear Merval down 20% in a week and also YPF down 20% in a week, In fact all oil companies are cutting back.
Dec 13th, 2014 - 12:51 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!