Repsol: YPF withholding two shale finds

Repsol claims: New shale discoveries were never disclosed

AP/Scanpix

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By Staff and news wires

 26 July 2012 21:54 GMT

Spanish energy company Repsol claimed on Thursday that it found Argentina's first shale oil resource outside the giant Vaca Muerta field shortly before the government seized control of its YPF unit in April, a report said.

The discovery in the San Jorge Gulf basin in Santa Cruz province, where the majority of Argentina's crude is produced, is further evidence the country may have some of the world's biggest unconventional energy reserves, Reuters reported.

Under Repsol's control, YPF discovered the shale oil in two exploratory wells on the Canadon Yatel and Los Perales blocks.

Additional studies determined that the deposit to be prospected totaled some 10,800 square kilometers, with YPF holding concessions to roughly half that area.

A spokesman at Repsol in Madrid told the news wire that YPF was going…

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