Source: World Oil
By: FRANCOIS DE BEAUPUY
4/27/2017
Total SA will spend $500 million over three to four years to develop a shale gas field in Argentina as the country’s government lures investors by pledging a minimum price.
“We have giant resources of non-conventional gas under our feet in Argentina,” Chief Executive Officer Patrick Pouyanne told reporters at a conference in Paris on Thursday. “It’s the beginning of a nice story.”
The French energy giant has given the go-ahead to develop the first phase of the Aguada Pichana Este license in the Vaca Muerta formation. Total also plans to increase its interest in the license, co-owned by YPF SA, Wintershall Energia SA and Panamerica Energy LLC, to 41% from about 27%, pending approval from local authorities.
External Link: CLICK HERE FOR FULL ARTICLE