MADRID Jan 4 Spain's Repsol said it
will take legal action against Bridas International over the
Argentine company's deal to develop shale resources with local
state-controlled energy firm YPF.
Repsol has threatened to launch legal action against any
company that partners with YPF after Argentina seized control of
the Spanish company's majority stake in the energy firm last
"We informed Bridas of our intention to take legal action on
Jan. 2," a Repsol spokesman said on Friday.
YPF needs partners to develop Argentina's shale oil and gas
resources and last month announced a preliminary agreement with
Bridas for an initial $1.5 billion investment.
YPF has also signed a preliminary agreement for a pilot
partnership with U.S. oil major Chevron Corp, also
prompting a lawsuit against the U.S. company by Repsol.