(MENAFN) Argentina's Treasury Petroleum Fields' (YPF) Executive President, Miguel Galuccio, stated that the oil firm inked a memorandum of understanding (MoU) with Chevron for unconventional hydrocarbon production in the country's Vaca Muerta field, reported Xinhua News.
He added that in Vaca Muerta unconventional oil and gas deposit, located in Argentina's southern province of Neuquen, the company has achieved 37 perforated wells, 27 completed wells, with 10 waiting to be finished, in addition to another 26 to be perforated during the rest of 2012.
Under the terms of the agreement, the Latin American firm will also seek to study the potentiality of recovery and improvement of its deposits, via new and current technology.
Moreover, there would be shared research and development of future joint projects, in terns of deposits' improved recovery.
It is worth noting that the agreement sets the interest to assess the development of oil and unconventional gas fields in the region.
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