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LatinNews Daily - 04 November 2021

In brief: New investment announced for Argentina’s Vaca Muerta

* Shell Argentina, a subsidiary of Anglo-Dutch multinational Royal Dutch Shell, and Argentina’s state-owned oil company, Yacimientos Petrolíferos Fiscales (YPF), have announced that they will jointly develop the Bajada de Añelo shale block in Argentina’s ‘Vaca Muerta’ shale oil and gas fields in Neuquén province, Patagonia. According to the local media, the project will require a joint investment of some US$300m. Neuquén Governor Omar Gutiérrez tweeted that the companies will build a processing plant with the capacity to process 15,000 barrels per day of oil and 2m cubic metres of natural gas, which will create 1,200 direct and indirect jobs. He also announced plans to advance with the drilling of 16 new wells in the area.

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