VLADIVOSTOK (Sputnik) – Russian energy giant Gazprom and Argentinian energy company YPF ("Treasury Petroleum Fields") have agreed on joint exploration work on the territory of Argentina, a Friday Gazprom statement said.
The two companies signed a relevant agreement at the Eastern Economic Forum (EEF) currently underway in the Russian Far East city of Vladivostok.
The Gazprom-YPF agreement defines the key principles of cooperation on hydrocarbon exploration and production in Argentina, according to the Gazprom statement.
In late April, Gazprom and YPF signed a memorandum of cooperation. The document stipulates the main areas of the future bilateral cooperation, including exploration, production and transmission of hydrocarbons in Argentina and third countries.
A large oil and gas deposit in western Argentina's Vaca Muerta was discovered in 2011. The field is believed to possess one of the world's largest reserves of shale-based hydrocarbons.
