Argentina's state-run oil company YPF SA (YPF)
and Schlumberger AG
, the world's top oil services provider, have reached a deal to invest $390 million in the Vaca Muerta shale field in Patagonia, YPF said on Wednesday.
In a letter to the Buenos Aires stock exchange, YPF said a division of Schlumberger would invest the full amount and obtain a 49 percent stake in the 228.5 square kilometer (88.22 square miles) Bandurria Sur concession, where the two companies would develop a two-phase shale oil pilot
(Reporting by Luc Cohen)