February 23, 2017 / 11:25 PM / in a year

Argentina's YPF says signs deal with Shell for Vaca Muerta development

BUENOS AIRES, Feb 23 (Reuters) - Royal Dutch Shell PLC and Argentina’s state-run oil company YPF SA signed a preliminary deal to develop oil and gas assets in the Vaca Muerta shale field, involving a $300 million investment from Shell, YPF said on Thursday.

Both companies will take a 50 percent stake in the Bajada de Añelo field to develop a pilot program, which will be operated by Shell, YPF said in the statement. The agreement is subject to approval by provincial authorities. (Reporting by Juliana Castilla; Writing by Luc Cohen; Editing by James Dalgleish)

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