YPF intends to expedite its divestiture plan, aiming to sell stakes in offshore exploration projects in Argentina and Uruguay, as well as mature fields. CEO Horacio Marin emphasizes a focused strategy on the Vaca Muerta formation, Argentina’s top oil and gas region.
Argentina’s energy firm, YPF, is advancing its divestiture strategy, which entails the sale of controlling interests in offshore exploration projects located in Argentina and Uruguay. The company aims to reduce its operations in mature fields while eventually planning to sell a gas distribution company. Chief Executive Officer Horacio Marin stated that this strategy is directed at concentrating on the Vaca Muerta formation, known as Argentina’s most productive region for oil and gas extraction.
YPF’s divestiture plan signifies a strategic pivot towards enhancing its focus on the Vaca Muerta formation. By divesting offshore projects and mature fields, the company aims to streamline operations and bolster its presence in the most productive areas for oil and gas in Argentina.
Original Source: www.marketscreener.com
