YPF and Statoil will cooperate in the exploration offshore in Argentina

MEXICO, 29 Sep – RIA Novosti. Argentine energy company YPF signed an agreement with Norwegian Statoil about the possibility of joint research on the continental shelf of the Atlantic ocean in Argentina, the report said YPF.

Studies may be conducted to depths of 500 to 3500 meters, within a total area of 360 square kilometers in the border with Uruguay territory. This border area has a high potential and high risk, and both companies expect to study in the basins of the Salado (Salado), co (Colorado) and Argentina (Argentina). “For YPF and Statoil access to new information will be extremely important to raise awareness about the potential of the territory”, — stated in the message.

Until now, exploration on the continental shelf of Argentina were conducted mostly in shallow water, the basins of the rivers Salado and Colorado, the Gulf of San Jorge and the disputed Falkland Islands (Malvinas). In recent years, YPF has conducted studies on the southern part of the continental shelf of the Atlantic.

In may, Argentina announced plans to reduce the need for imported fuels, increasing domestic oil production by 2025, 23%, to 653 thousand barrels per day. Three years ago the South American country has become a net importer of energy in connection with a reduction in domestic production of oil and gas on the background of deteriorating investment climate.