Repsol strikes shale oil and gas in Argentina

YPF ” an Argentine subsidiary of Spanish company Repsol ” has found nearly 1bn barrels of oil equivalent (boe) in shale oil and gas in an offshore shale formation in Argentina.

The 927m boe find ” about three-quarters oil and one-quarter gas ” could be expanded as YPF has as yet only explored 428 kmà‚² of the 12,000 kmà‚² area it is working on.

The US Energy Information Administration (EIA) estimates that Argentina holds the world’s third-largest technically recoverable shale gas resources of 72,000bn mà‚³ of gas.

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