YPF, Argentina’s energy company, plans to divest from offshore exploration projects and mature fields to concentrate on the Vaca Muerta formation, its key oil and gas production area. CEO Horacio Marin highlighted the intention to streamline operations and potentially sell a gas distribution company in the future.
Argentina’s YPF is accelerating its divestiture plan, which includes the sale of controlling stakes in offshore exploration projects in both Argentina and Uruguay. CEO Horacio Marin stated that the strategy aims to reduce involvement in mature fields and eventually market a gas distribution company. This restructuring effort is designed to concentrate on Argentina’s most productive oil and gas region, the Vaca Muerta formation.
YPF’s divestiture plan signifies a strategic shift towards enhancing focus on the Vaca Muerta formation, which is known for its abundant oil and gas resources. By offloading offshore exploration and mature fields, YPF aims to optimize its operations and recover resources effectively.
Original Source: www.marketscreener.com
