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LatinNews Daily - 27 July 2021

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In brief: Argentina’s YPF to explore Vaca Muerta potential in Mendoza

* Argentina’s state-owned oil company, Yacimientos Petrolíferos Fiscales (YPF), has announced that it will undertake its first project to explore the potential of the 'Vaca Muerta' shale oil and gas deposits in the province of Mendoza. The company will invest US$17m and will drill two wells in the south of Malargüe, a municipality in the south-west of the province, within the CN-VII and Paso de las Bardas Norte blocks. According to a press release, YPF considers this project “a strategic move” for the regional and national “oil future” as it opens new perspectives for expanding the limits of the exploitation of the Vaca Muerta fields. This exploration project is part of an agreement signed by Mendoza’s governor, Rodolfo Suárez, and YPF president Pablo González, which involves an overall investment of over US$500m in a variety of projects to “promote the company’s hydrocarbon development in the province”.