The agreement gives Chevron four months of exclusive rights to negotiate 50% participation in the Loma de la Lata Norte and Loma Campana areas, which cover an area of 290 square kilometres, YPF said in a securities filing.
"Chevron is committed to making the expenditures for a development program, estimated at 100 wells in said areas over a period of 12 months, which will cap the amount defined in the Agreement," YPF said.
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