Argentina's YPF says signs MoU with Sinopec for new energy projects

miércoles 28 de enero de 2015 10:47 GYT

BUENOS AIRES Jan 28 (Reuters) - Argentina's YPF on Wednesday signed a preliminary agreement with China's Sinopec to enter a new joint venture exploring for oil and gas in the South American country, the state-run Argentine energy firm said.

"The Memorandum of Understanding, signed today in Beijing, reflects the intentions of both parties to form a joint venture that will cover different market segments, upstream and potentially downstream," YPF said in a statement.

The new joint venture would target both conventional and shale oil and gas resources, it added.

(Reporting by Eliana Raszewski, Writing by Richard Lough; Editing by Chizu Nomiyama)