Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Argentine Billionaire Rocca Goes to Chubut to Sign Shale Deal

Paolo Rocca, the Argentine billionarie, will arrive in Chubut province today to sign a 10-year extension for an oil area, the province Oil Minister said.

“Rocca is coming given the importance of the deal we are signing today,” said Ezequiel Cufre in a telephone interview from Comodoro Rivadavia, Chubut. “We are giving his company an extension.”

President Cristina Fernandez de Kirchner’s government seized a 51 percent stake in YPF from Spain’s Repsol SA in April 2012 to stem fuel imports that doubled to $9.4 billion in 2011 and cost the country $10 billion in 2012.

The agreement between Tecpetrol SA, a subsidiary of Tenaris SA, and the provincial government obliges Tecpetrol to drill conventional and shale wells in formation D-129. Tecpetrol will also have to bring a new rig before January or show it has acquired one to apply for a 200-day extension.

Tecpetrol owns 51 percent of the venture while Petrobras Argentina SA owns 25 percent and YPF the remainder.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.