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YPF announces new shale oil find in Neuquen-Mendoza area

Staff writer |
Argentine state-controlled energy company YPF announced a shale oil find in the southwestern province of Neuquen in Patagonia.

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The discovery was made at the Agrio formation, according to CEO Miguel Galuccio, who said at a press conference that production operations will be carried from the neighboring province of Mendoza.

"It's the third time we've discovered oil at a non-conventional (shale) well," Galuccio said, adding that the find "could be very significant for Mendoza, which has very mature fields."

"I was there until 2:00 a.m. waiting for the well to be cleaned; that's why we still can't provide the production level, but we think it's going to be very significant."

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