Técnicas Reunidas has been awarded a contract for engineering and management services on the Vaca Muerta project, a major 30,000km^² oil field spanning several provinces in central Argentina.

VMOS, partially owned by YPF, awarded the contract, which positions YPF as a stronger player in the global energy market and promotes Argentina's economic growth through job creation and foreign investment attraction.

The contract involves engineering, procurement and construction management (EPCm) services for a hydrocarbon storage and dispatch terminal in Punta Colorada, Río Negro province.

The terminal will have a storage capacity of 600,000m³ across five tanks and a dispatch capability of 62,000m³ per day via two monobuoys capable of loading very large crude carriers.

The contract awarded to Técnicas Reunidas is valued at $440m, with $70m allocated for engineering and project management services.

YPF and its partners will invest $1.8bn for the terminal's full implementation.

Técnicas Reunidas will deploy its engineering expertise from centres in Madrid, Argentina and Chile, dedicating one million working hours to the project.

In an earlier phase, Técnicas Reunidas was responsible for optimising the project's conceptual engineering, initially developed by YPF.

This work helped reduce investment costs and shorten execution timelines for the planned infrastructures, enabling the Argentinean company to quickly begin exporting fuel at reduced capacity once local demand was met.

The new contract further strengthens Técnicas Reunidas' relationship with YPF, as the Spanish company is also completing the upgrade of the Luján de Cuyo refinery, a project recently awarded by YPF.