Terra Energy receives contract from YPF for oil and gas exploration

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istockanalisys Terra Energy & Resource Technologies, Inc., a technology provider for exploration of natural resources, has received a services contract from YPF for oil and gas exploration of a license area in the province of Mendoza, Argentina.

The contract requires Terra to carry out the services using its satellite-based Sub-Terrain Prospecting (STeP) technology. STeP is a method which uses the innovative models and techniques to remotely process satellite and other analytical data and accurately delineate oil and gas deposits.

"YPF is the largest Argentine oil and gas exploration and production company, and we are very pleased that such a prominent company as YPF elected to utilize Terra's exploration STeP services," said Dmitry Vilbaum, CEO of Terra Energy & Resource Technologies. "Our STeP technology has been utilized literally around the world for various clients. STeP helps reduce exploratory risks, save time and reduce costs; and we consider it to be one of the best early exploration tools available today. We are proud a major energy player such as YPF has selected STeP for its exploration purposes."

Dr. Alexandre Agaian, President of Terra Energy & Resource Technologies, stated: "This project is a pilot for YPF, and we expect that...Read full article

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