Argentina’s state-controlled oil company YPF has begun drilling three new exploratory wells in Palermo Aike, the country’s second-largest unconventional hydrocarbon reserve after Vaca Muerta

The oil company has signed a commitment with the province of Santa Cruz to drill three exploratory wells this year in the unconventional hydrocarbon formation Palermo Aike

The drop in oil demand by refiners at local level and the exports limited to a minimum at global level due to the coronavirus pandemic, pushed storage capacity to the limit in the producing provinces