Join the conversation:

YPF makes oil find in Argentina's Rio Negro province

YPF makes oil find in Argentina's Rio Negro province

Posted by Juan Gavasa on March 13, 2014

State-controlled oil company YPF said it discovered an oil field in Rio Negro, a province in southern Argentina. The find was made in the Los Caldenes block, located 30 kilometers (about 19 miles) north of the town of Cinco Saltos, the company said in a statement.

The field contains an estimated 15 million barrels of petroleum, YPF said. The discovery was made at the Los Caldenes x-2 well, which was drilled to a depth of 31.54 meters (about 102 feet) below the well head, YPF said.

The Los Caldenes block had last been explored in 1999, YPF said. Argentina's government took control of YPF in May 2012, when Congress approved the expropriation of a 51 percent stake in the company from Spain's Repsol. Repsol retains a 12 percent stake in YPF, Argentina's largest oil producer.

Link To Full Article: 

Facebook comments



Monthly newsletter featuring articles hand picked by our country managers from the best content across PanamericanWorld.



Monthly newsletter featuring articles hand picked by our country managers from the best content across the Caribbean Region on PanamericanWorld.

PANAMERICANWORLD COUNTRIES