Eni and XRG sign SPAs for Vaca Muerta blocks
Key Highlights
- Eni and XRG signed SPAs for three blocks Vaca Muerta basin onshore Argentina.
- Gas from the blocks will supply two floating LNG units.
- The initiative aims to establish Argentina as a major LNG exporter with new long-term supply sources.
Eni SPA and XRG, the international investment arm of Abu Dhabi National Oil Co. (ADNOC), have signed sale and purchase agreements (SPA) with YPF SA for interests in Meseta Buena Esperanza, Aguada Villanueva, and Las Tacanas upstream blocks in the unconventional Vaca Muerta basin onshore Argentina.
These blocks are expected to form a core upstream component of Argentina’s integrated LNG development which will include a large-scale upstream-midstream platform in Vaca Muerta’s gas resources and the development of a major new long-term LNG supply source, Eni said.
The assets will feed the combined 12-million tonne/year (tpy) LNG capacity of two 6-million tpy floating LNG units.
These latest SPAs follow previous agreements for the development signed between the parties in February 2026 and November 2025.
With its 36% interest, YPF operates the blocks. Following completion of the transaction, which remains subject to approval by the relevant authorities, Eni and XRG will each hold 32% interest.