Petro AP will acquire 30% of the shares in Alianza, which is participating in the Llancanelo area in the Malargue department along with Argentina state producer YPF, according to Mendoza's government.
"This is a very special time we're living in," Mendoza governor Francisco Perez said in a statement, adding his belief that the deal will help provide employment, tax revenue and economic activity for the region.
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