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    YPF and Petronas to develop Vaca Muerta shale oil in Argentina

    Argentina's state-controlled energy company YPF has reached a deal worth $550 million with Malaysia's state oil firm Petronas to develop shale oil in Argentina’s Vaca Muerta shale formation, which is considered to be one of the world’s largest, according to a Reuters report.

    Reuters noted that Petronas would contribute $475 million to the initial investment in oil exploration in the southern Argentine province of Neuquén. During the pilot stage, more than 30 wells are planned to be drilled.

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