Argentina, Aug. 6 -- TotalEnergies announces that its affiliate Total Austral has signed an agreement with YPF SA for the sale of its 45% operated interest in two unconventional oil and gas blocks in Argentina, Rincon La Ceniza and La Escalonada, for an amount of USD 500 million at a valuation of around 10,000 USD/acre.Located in the Vaca Muerta area in the Neuquen Basin, these concessions (51,000 net acres) are currently in a pilot development phase.Total Austral's partners in these concessions are Gas y Petroleo de Neuquen (10%) and O&G Developments LTD S.A (45%), owned by Shell.Completion of the transaction is subject to customary conditions.
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