Eni to Acquire 32% Stake in Argentina's Vaca Muerta Shale Blocks

Corporate Action

โดย Zacks Investment Research·Read original

Summary · why it matters

Eni has signed an agreement to acquire a 32% interest in three upstream blocks in Argentina's Vaca Muerta shale basin. Following regulatory approvals, Eni and XRG will each hold a 32% stake, with YPF retaining the remaining 36%. The acquired assets will supply gas to the Argentina LNG project, an integrated development designed to export 12 million tons per annum of LNG through two floating LNG units. The partnership with YPF is expected to reduce execution risk by leveraging its operational expertise in the Vaca Muerta formation.

Eni S.p.A. ▲