YPF, Argentina’s energy company, plans to divest controlling stakes in offshore exploration projects and mature fields to prioritize operations in the Vaca Muerta formation, a key area for oil and gas production, as stated by CEO Horacio Marin.
YPF, Argentina’s prominent energy company, is initiating a strategy to expedite its divestiture plans. As articulated by Chief Executive Officer Horacio Marin, the company aims to dispose of controlling stakes in offshore exploration projects located in Argentina and Uruguay. This effort seeks to reduce involvement in mature fields while simultaneously planning the sale of a gas distribution company in the future.
The overarching objective of this divestiture is to streamline YPF’s operations, thereby allowing the company to concentrate on Argentina’s most prolific region for oil and gas production, known as the Vaca Muerta formation. By prioritizing these activities, YPF hopes to enhance its focus on growth in this vital area of energy production.
In conclusion, YPF is actively pursuing a divestiture plan to enhance its operational efficiency by selling offshore exploration projects and mature field interests. This strategic move aims to center the company’s efforts on maximizing production in the Vaca Muerta region, which represents a cornerstone for Argentina’s energy sector.
Original Source: www.tradingview.com
