Argentina seized YPF last year without paying anything. The Spanish company had been demanding $10.5 billion in compensation.
In Buenos Aires, Repsol, YPF and Mexico’s Pemex, which holds a stake in Repsol, said they had reached a process for determining compensation.
No other details were released.
The agreement must be ratified by Repsol during a board meeting on Wednesday.
YPF produces about a third of Argentina’s oil and a quarter of its gas.
Argentina has some of the world’s largest reserves of shale oil and gas.
The authorities in Argentina had accused YPF of not investing enough to increase output from its oil fields. Repsol replied that it had invested $20 billion in the country.
Repsol and the investment firm Texas Yale Capital Corp sued Argentina and demanded that it makes an offer for the YPF stake.
The EU also had filed a suit against Argentina’s import restrictions at the World Trade Organization.
GuilRUEgLe8Quincy Jones, the celebrated musician and producer who worked with Michael Jackson, Frank Sinatra, Ray…
Misleading allegations, rumours and outright lies about voting and fraud are flooding online spaces in…
At least 158 people have died in Spain's worst flooding disaster in generations. On October…
Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…
Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…
The US presidential candidates continued to campaign across key swing states on October 20. Footage…