YPF, the majority state-owned Argentine energy company, has signed a joint study and development agreement (JSDA) with Malaysia’s Petronas related to an integrated LNG project in Argentina that will encompass upstream unconventional gas production, pipeline and infrastructure development, LNG production, commercialisation and international logistics.
The partnership will take advantage of YPF’s leadership in the development of the Vaca Muerta formation, and the experience and knowledge accumulated by the Petronas Group in the operation of LNG liquefaction facilities, both onshore and offshore, around the world.
Since 2014, the companies have been partners in the development of the La Amarga Chica block in Vaca Muerta, which today is producing more than 40,000 barrels of oil and 1m cubic metres of gas per day. The new project is intended to unleash the full potential of Vaca Muerta.
In addition to this agreement, YPF and Petronas signed a memorandum of understanding to continue collaboration in Argentina in other areas, such as oil production, petrochemicals and clean energy solutions.
