Argentina’s state-run oil company, YPF, signed yesterday a memorandum of understanding for hydrocarbon cooperation with Oil and Natural Gas Corp (ONGC), India’s biggest oil and gas company. The Argentine company also announced that it would seek US$1 billion in financing for investments in Vaca Muerta. According to YPF, the agreement seeks to improve cooperation between the two companies in the sector, including collaboration in the exploration and development of oil and gas. The memorandum was signed during that event with the presence of India’s Oil and Gas Minister, Shri Hardeep S Puri, ONGC’s authorities, and YPF chairman Pablo González. “Our external funding goal is around US$1 billion, with a first round in Argentina we secured US$300 million,” said YPF head Pablo González.

Source: Bueno Aires Herald February 09, 2023 12:54 UTC