January 15, 2021 |
Argentina’s state-backed energy company YPF said Thursday that it has signed a preliminary deal with Shell to partner with it on exploring an offshore oil and natural gas block, a move that comes as a decline in revenue and tight access to financing make it hard to fund projects on its own.
Shell will join YPF and Norway’s Equinor on the project to explore the CAN 100 block in the North Argentine Sea basin, YPF said in a press release.
Equinor will continue to be the operator of the block with a
Argentine oil company is working with partners on projects as financing remains tight