YPF plans to expedite its divestiture strategy by selling stakes in offshore exploration projects and reducing its mature field operations, with a focus on the Vaca Muerta formation, Argentina’s key oil and gas production area.
YPF, Argentina’s leading energy company, is actively pursuing a divestiture plan aimed at selling controlling interests in offshore exploration projects located in Argentina and Uruguay. The initiative, as disclosed by CEO Horacio Marin, also involves diminishing involvement in mature fields and positioning a gas distribution company for potential sale. The primary objective of this divestiture is to concentrate on the Vaca Muerta formation, recognized as the most productive area for oil and gas in Argentina.
In summary, YPF’s strategic divestiture aims to streamline operations while enhancing its focus on the Vaca Muerta region. By selling off offshore projects and mature fields, YPF is aligning its resources toward higher-yielding opportunities in oil and gas production.
Original Source: www.marketscreener.com
