YPF plans to invest $21.5 billion in Argentina drilling and development from 2018 to 2022 and boost oil production by 26%, the state-controlled company said. Investment in Argentina’s energy sector by companies in partnership with YPF is projected at $8.5 billion during the period, which brings the total expected investment through 2022 to $30 billion. The company expects to have drilled 1,600 new oil and natural gas wells by that time. YPF is the main company exploring Patagonia’s Vaca Muerta Shale, which covers an area the size of Belgium. Argentina hopes that development of the Vaca Muerta will enable the country to become a net oil exporter.
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