Argentina needs foreign investment to develop the shale formation, thought to be one of the world's largest. YPF said Petronas would contribute $475 million to the initial investment in oil exploration in the southern Argentine province of Neuquen.
BUENOS AIRES: Argentina's state-controlled energy company YPF said on Thursday it had reached a deal worth US$550 million with Malaysia's state oil firm Petronas to develop shale oil in the vast Vaca Muerta formation.
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