Argentine‚Äôs state oil and gas company YPF and Malaysian Petronas will invest jointly US$2.3 billion in an oil production project in the Vaca Muerta shale play, one of the largest in the world. The project, S&P Global Platts reports , envisages daily production of 60,000 barrels of crude oil and gas, to be reached by 2022. The Argentine company said in a statement the two had already spent US$550 million on exploration in the La Amarga Chica area, and have achieved production at a daily rate of 9,800 boe. Over the long term, the partners will invest another US$4.7 billion over 20 years to boost production to 75,000 bpd, which will be the peak for the deposit. Last year, YPF said it planned to spend US$21.5 billion on new oil and gas production over the next five years, eyeing a 26-percent increase in crude oil production. The company said […]