04 January 2010 - 00:00 CET | PDF | 25.70 KB
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First meeting at the highest level in Madrid
Su Shulin and Antonio Brufau discuss future cooperation between Repsol and Sinopec
Press Release
04/01/2011 00:00
- The company confirms the existence of significant volumes of non-conventional hydrocarbons in the Loma la Lata area, where Repsol YPF has rights to 12,000 km2.
- Exploration in an area of 428 km2 yielded 927 million barrels of oil equivalent in recoverable resources, 741 million of which are oil.
- This volume is similar to the existing reserves of YPF.
- Further exploration in an area of 502 km2 shows the potential for large volumes of high quality hydrocarbons.
- The find is located in the Argentinean Neuquén province in the Vaca Muerta formation, with an extension of 30,000 km2, of which YPF owns rights to 12,000 km2.
- Wood Mackenzie has identified Vaca Muerta as one of the world’s best shale plays, describing it as “excellent.”
- These resources will transform the energy potential of Argentina and South America, boasting one of the world’s most significant accumulations of non-conventional resources.