YPF Fast-Tracks Divestiture to Refocus on Vaca Muerta

YPF plans to expedite its divestiture strategy by selling stakes in offshore projects and a gas distribution company, thereby reducing its roles in mature fields. This move aims to streamline operations and concentrate on the lucrative Vaca Muerta formation, as stated by CEO Horacio Marin.

Argentina's prominent energy corporation YPF has announced plans to accelerate its divestiture efforts, according to chief executive officer Horacio Marin. This plan encompasses selling controlling shares in offshore exploration ventures in both Argentina and Uruguay.

The strategy focuses on reducing the company's presence in mature oil fields, with the ultimate goal of offering a gas distribution company for sale. This significant shift is intended to redefine YPF's operational focus.

The primary objective of this divestiture is to streamline YPF's business operations, allowing it to concentrate more robustly on the Vaca Muerta formation, Argentina's most productive region for oil and gas development.

(With inputs from agencies.)