Statoil is in negotiations with Argentina’s state-owned oil company YPF concerning a joint venture to develop the country’s massive occurrences of shale gas. YPF will invest more than USD 37 billion in developing the country’s energy portfolio, writes Financial Times.

YPF’s CEO Miguel Galuccio is expected in Oslo today, Monday, for a meeting with Statoil senior executives, but at an investor conference in London the other day, Galuccio stressed that he was not meeting with Statoil alone.