XRG and Eni buy stakes in Vaca Muerta blocks

BUENOS AIRES, June 30, 2026 – XRG and Eni have signed agreements to acquire stakes from YPF in three upstream blocks in Argentina’s Vaca Muerta shale, the companies announced on Monday.

Under the agreements, XRG and Eni will each acquire a 32% interest in the Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas blocks, with YPF retaining 36% and remaining as the operator.

The blocks will be part of the Argentina LNG upstream-midstream integrated development, with production from the acreage expected to provide gas for Argentina LNG’s two planned FLNG vessels, as well as condensates.

“Vaca Muerta is one of the world’s richest unconventional basins in terms of resources: our participation positions us across the entire value chain, from Argentine upstream to the supply of LNG to international customers, creating value while contributing to global energy security,” said Guido Brusco, Eni’s CEO of global natural resources.

Eni and YPF signed an agreement in June 2025 to advance the construction of infrastructure for gas production, treatment and transportation to Argentina LNG in June 2025.

“Argentina has the potential to play an increasingly important role in meeting the world’s growing demand for natural gas, and projects such as Argentina LNG will be important to unlocking that opportunity,” added Mohamed Al Aryani, XRG’s president of international gas.

XRG is ADNOC’s international energy investment arm. Its gas and LNG interests include Rio Grande LNG in the USA, the Absheron gas and condensate field in Azerbaijan, Offshore Block 1 in Turkmenistan and Area 4 in Mozambique’s Rovuma basin.

Photo courtesy of YPF

Read our latest insights on: