YPF, renationalised last year by Argentine presidentCristina Fernandez de Kirchner, said the two companies forsee July as a closingdate for the deal, which has an expected investment level of $1.5 billion andis subject to customary corporate and regulatory conditions.
"This is the step before a definitive agreement, andreflects the high degree of progress over five months of joint work between thetechnical teams of the two companies," YPF said in a statement.
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