Argentinian energy company Yacimientos Petroliferos Fiscales (YPF) has signed a deal with Norwegian multinational Statoil to team up in studying potential drilling sites offshore Argentina’s Atlantic coast, according to Reuters.
YPF (whose full name means Fiscal Oilfields in English) plans to perform seismic tests in the continental slope where water depths vary between 500m and 3,500m.
The companies believe that some of the most promising prospects are in the Salado Basin, the Colorado Basin and the Argentine Basin.
YPF is a 51% nationalized company (with the other 49% held by ten provincial governments) and Norway’s government has a controlling interest in Stavanger-based Statoil.
