YPF is expediting its divestiture plan to sell stakes in offshore exploration projects in Argentina and Uruguay, aiming to focus on the Vaca Muerta formation, Argentina’s key region for oil and gas. CEO Horacio Marin announced plans for future sales of mature fields and a gas distribution company.
YPF, the Argentine energy firm, is accelerating its divestiture strategy, according to CEO Horacio Marin. The plan involves selling controlling stakes in offshore exploration projects located in Argentina and Uruguay. This decision is aimed at reducing the company’s involvement in mature fields, thus enabling YPF to concentrate more effectively on the Vaca Muerta formation, which is touted as the country’s most significant area for oil and gas production. Additionally, YPF plans to sell a gas distribution company in the future.
YPF’s strategic decision to divest from offshore exploration projects signifies a focused shift towards maximizing the potential of the Vaca Muerta formation. By streamlining operations and reducing involvement in mature fields, YPF aims to enhance its efficiency and optimize its resources for future growth.
Original Source: www.marketscreener.com
