Bridas has 60 days to negotiate for exclusive rights for a share of YPF's stake in two exploration blocks in Argentina's Neuquen province, Bajada de Anelo and Bandurria, covering 663 square kilometres, according to a securities filing.
The Argentine company, owned 50% by Chinese producer Cnooc, will also loan some $500 million to YPF.
The deal was signed at YPF headquarters in Buenos Aires by chief executive Miguel Galuccio and Bridas executives Carlos and Alejandro Bulgheroni.
YPF
