YPF is expediting a divestiture plan that includes selling offshore exploration stakes in Argentina and Uruguay, as well as mature fields. The focus will shift towards the Vaca Muerta formation, Argentina’s leading oil and gas region, according to CEO Horacio Marin.
Argentina’s energy company, YPF, has announced an expedited plan to divest from offshore exploration projects in both Argentina and Uruguay. The company intends to sell controlling stakes in these ventures, while also aiming to reduce its presence in mature fields. Chief Executive Officer Horacio Marin indicated that YPF may later consider offering a gas distribution company for sale as part of this strategic shift.
The primary objective of the divestiture is to streamline YPF’s operations. This strategy will allow the company to concentrate on the Vaca Muerta formation, known as Argentina’s most prolific region for oil and gas production. This focus aims to enhance YPF’s efficiency and profitability in the competitive energy market.
In conclusion, YPF is executing a strategic divestiture plan to sell its offshore exploration stakes and streamline operations. This shift is aimed at strengthening the company’s focus on the Vaca Muerta formation, thereby enhancing its productivity and market performance.
Original Source: www.marketscreener.com
