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FILE PHOTO: Trafigura logo is pictured in the company entrance in Geneva March 11, 2012. REUTERS/Denis Balibouse/File Photo
BUENOS AIRES (Reuters) - Latin American oil company Vista Oil & Gas and Geneva-based Trafigura on Monday signed a deal to jointly develop 20 wells in Argentina’s Vaca Muerta shale oil deposit, the companies said in a statement.
The investment will be made in the Bajada del Palo block Oeste, where Vista already has 28 operational oil wells, the statement said.
Trafigura Argentina will invest around $75 million. Of that, $50 million will be used to develop the new wells and $25 million will be used to buy 20% of their eventual production, it added.
Vaca-muerta
San-juan
Argentina
Bahia-blanca
Buenos-aires
United-states
Distrito-federal
Oeste
San-luis
American
Miguel-galuccio
Cynthia-osterman