YPF plans to expedite a divestiture plan involving the sale of offshore exploration stakes in Argentina and Uruguay. The initiative aims to streamline the company’s focus on the Vaca Muerta formation, Argentina’s leading oil and gas production region, as stated by CEO Horacio Marin.
YPF, Argentina’s national energy company, is advancing a divestiture strategy to enhance operational efficiency. Chief Executive Officer Horacio Marin announced plans to divest controlling stakes in offshore exploration projects located in both Argentina and Uruguay. This initiative also entails a reduction in their presence within mature fields as well as the eventual sale of a gas distribution company. The primary objective of these actions is to concentrate efforts on the Vaca Muerta formation, which is recognized as Argentina’s most productive region for oil and gas extraction.
YPF’s divestiture strategy is strategically aimed at optimizing the company’s operations by focusing on high-potential regions such as Vaca Muerta. The planned sales of offshore exploration projects and mature fields underscore the company’s commitment to enhancing profitability and efficiency in a competitive energy market.
Original Source: www.tradingview.com
