Statoil Aims To Develop Argentinian Shale

Agreement with YPF marks Statoil’s entry into Argentina
Statoil (ticker: STO) and YPF announced today an agreement to
explore hydrocarbons in the Vaca Muerta shale. This represents
Statoil’s entry into Argentina. Under the terms of the agreement,
Statoil will enter the Bajo del Toro license block with a 50
percent interest. YPF will retain a 50 percent share and will
remain the operator. Statoil will recognize YPF’s past costs
incurred in the block and will fund 100 percent of the cost of
certain activities in the future. Bajo…

Agreement with YPF marks Statoil’s entry into Argentina
Statoil (ticker: STO) and YPF announced today an agreement to
explore hydrocarbons in the Vaca Muerta shale. This represents
Statoil’s entry into Argentina. Under the terms of the agreement,
Statoil will enter the Bajo del Toro license block with a 50
percent interest. YPF will retain a 50 percent share and will
remain the operator. Statoil will recognize YPF’s past costs
incurred in the block and will fund 100 percent of the cost of
certain activities in the future. Bajo…