October 26, 2022--Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--A new oil discovery off the coast of Argentina is brightening the country's energy prospects. Exploration efforts by YPF S.A. (NYSE:YPF) (Buenos Aires, Argentina) and Equinor (NYSE:EQNR) (Stavanger, Norway) at the Argerich project have brought to light new oil deposits that could be as vast as the Vaca Muerta shale reservoir, one of the world's largest non-conventional oil formations.

As a result of the exploration efforts, Argentina's Minister of Environment and Development launched a public audience with dozens of energy, environmental, economic and labor experts about the prospects for Argerich. The objective of the event was to measure support for developing such large projects off the coast of Buenos Aires.