Argentine President Cristina Fern?ndez will inaugurate state-run YPF's exploration drilling campaign for unconventional oil and gas in Chubut province on Wednesday (Feb 13).
YPF CEO Miguel Galuccio will also attend the event, which marks the beginning of shale exploration of the Golfo San Jorge basin in Chubut.
Resources in the basin are second only to the Vaca Muerta shale formation in Neuqu?n province, according to Galuccio. The drilling is part of YPF's US$37.2bn investment plan for 2013-2017.
YPF plans to drill two wells in the basin, targeting the D-129 and Aguas Blancas formations.
The country's primary conventional field, Cerro Drag?n, is also located in the San Jorge basin.
YPF is hoping that strategic alliances with Chevron (NYSE: CVX) and Russia's Gazprom will drive development of the country's unconventional resources.
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