Gazprom Wants to Invest in Argentina Gas Project

Gazprom is considering the possibility of acquiring a stake in one of the key producing assets of Argentina’s YPF, the Estacion Fernandez Oro deposit, the Russian state-run gas giant has said, according to

“Gazprom Group is considering the possibility of implementing projects in Argentina, including those related to the development of unconventional gas reserves. We are currently evaluating acquiring a stake in one of the main gas production assets in state-controlled oil and gas company YPF,” the company said.

In the fall of 2015, Gazprom and YPF signed an agreement on cooperation in the field of hydrocarbon production.

Gazprom is also participating in preparation of a master plan for the development of the Argentina’s gas industry.

YPF (Yacimientos Petroliferos Fiscales) is a vertically integrated Argentine energy company, engaged in oil and gas exploration and production, and the transportation, refining, and marketing of gas and petroleum products.

Also on Monday, Gazprom said it plans to increase gas reserves on shelf by 2 trillion cubic meters in 2019-2022.

“In 2019, geological exploration on the Russian shelf will continue. In particular, it is planned to build two new wells on Skuratovsky and Leningradsky license areas. In 2019-2022, seven wells are expected to be completed on the Kara Sea shelf, and more than 10,000 sq. km of 3D seismic exploration at the Nyarmeisky, Skuratovsky, Amderminsky, Beloostrovsky and Zapadno-Sharapovsky areas. Planned growth of reserves in 2019-2022 will exceed 2 trillion cubic meters of gas,” the company said.