Argentina has approved the local oil company, YPF, to receive government funds for a pipeline linking the Vaca Muerta shale formation to a port in the Rio Negro province.
The country’s minister of economy, Luis Caputo, announced that the $3.0 billion investment should generate over $15.0 billion in annual oil exports.
YPF, in partnership with Shell, Chevron, Vista, and Pan American Energy, plans to boost Argentina's status to a net energy exporter, with this and other projects linked to the Vaca Muerta shale formation reserves.
The 437 km pipeline should require an estimated 150,000 mt of steel plates for its construction, based on a diameter of 30 inches and a thickness of 18 centimeters.
Vaca Muerta is the world's second largest shale gas reserve and fourth largest for shale oil.