YPF Accelerates Divestiture of Offshore Projects to Focus on Vaca…

YPF is accelerating its divestiture plan to sell controlling stakes in offshore exploration projects in Argentina and Uruguay, as stated by CEO Horacio Marin. The company aims to reduce its presence in mature fields and plans to sell a gas distribution company, focusing more on the Vaca Muerta region for oil and gas production.

YPF, Argentina’s prominent energy company, intends to expedite its divestiture strategy, as announced by CEO Horacio Marin. This plan involves the sale of controlling stakes in offshore exploration projects located in both Argentina and Uruguay. Additionally, the company aims to minimize its engagement in mature fields, ultimately planning to offer a gas distribution company for sale. The overarching objective of this divestiture is to refine YPF’s focus on the Vaca Muerta formation, recognized as Argentina’s most prolific oil and gas production region.

In summary, YPF’s divestiture strategy reflects a commitment to concentrating its efforts on the Vaca Muerta formation, optimizing its portfolio by divesting from offshore projects and mature fields. This approach is intended to enhance operational efficiency and strengthen the company’s focus on its core production areas.

Original Source: www.tradingview.com