YPF is accelerating a divestiture plan to sell offshore exploration stakes in Argentina and Uruguay, as stated by CEO Horacio Marin. The plan aims to concentrate on the Vaca Muerta formation, Argentina’s key region for oil and gas production.
YPF, Argentina’s leading energy company, is progressing with a divestiture plan aimed at selling its controlling stakes in offshore exploration projects located in Argentina and Uruguay. CEO Horacio Marin has articulated that this strategy will also include a reduction in the company’s operations in mature fields, followed by the eventual sale of a gas distribution entity. This plan is designed to refocus the company’s resources on the Vaca Muerta formation, recognized as Argentina’s most productive area for oil and gas extraction.
In conclusion, YPF is undertaking a strategic shift by divesting offshore exploration projects and mature field operations to concentrate on the promising Vaca Muerta formation. This approach aims to enhance the company’s operational efficiency and ensure a more focused presence in Argentina’s thriving energy sector.
Original Source: www.tradingview.com
