YPF SA, Dow Chemical Plans Investing $188 million developing shale gas facility

Dow, YPF to invest $188 million to develop shale gas in Argentina

7:05 AM, 26th September 2013
Dow Chemical joint venture with YPF SA

BUENOS AIRES, ARGENTINA: YPF SA, Argentina’s largest company, and Dow Chemical Co’s Argentine unit signed a final accord to invest $188 million to jointly develop shale gas at the country’s Vaca Muerta oil field. Dow will provide $120 million over a year while YPF will invest $68 million to develop 16 shale gas wells.

“This agreement confirms the path we decided to take when we presented our strategic plan. We said we needed to develop a shale gas pilot and today we are materializing it,” said Miguel Galuccio, Chief Executive Officer, YPF.
© Bloomberg News 

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