Argentina Stifles Shale Oil Interest With Seizure Threat: Energy
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Argentina will struggle to attract investors to develop shale fields, holding an estimated 23 billion barrels of oil equivalent, after revoking licenses from YPF SA and Petroleo Brasileiro SA over an investment dispute.
Developing resources at the Vaca Muerta formation, an area the size of Connecticut in Argentina’s Neuquen province, is “paramount” for the country to revive its century-old oil and gas industry, Buenos Aires-based YPF said in February when it announced the find. The country may double output in a decade by investing $25 billion a year to develop the fields, it said.