State-run YPF said on Sunday it had made a discovery of ‘tight gas’ in the western Argentine province of Mendoza.
The find, made by the Paso de las Bardas Norte xp-37 exploration well, has a potential 25 million barrels of oil equivalent, the company said in a statement.
YPF said gas production infrastructure is already in place in the area, allowing for immediate commencement of production.
A report published by the U.S. Department of Energy showed that Argentina has more natural gas in shale rock than all of Europe combined.
The report estimated that Argentina holds 774-trillion-cubic-feet of natural gas.