Norway’s Statoil takes first steps into Argentina’s lauded shale

26 Aug 2017   Argentina, Norway

Norway’s Statoil marks a debut of sorts with a partnership in a shale basin in Argentina, one of the largest in the world. Map courtesy of Statol Aug. 25 (UPI) — Norwegian energy company Statoil said Friday it signed an agreement with Argentine company YPF to explore parts of the “world-class” Vaca Muerta shale basin. Statoil under the terms of the agreement took a 50 percent stake in the Bajo del Toro exploration permit in the Neuquén Basin alongside YPF. The Norwegian company said it would fund all of the costs associated with activities in the region. This is the first formal step for Statoil into one of the largest unconventional oil and natural gas basins in the world. “This is a light oil exploration project in a world-class unconventional resource play, the Vaca Muerta formation,” Tom Dodson, Statoil’s vice president for exploration and production, said in a statement […]

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