2024-04-09 03:32:37
YPF is advancing in the sale of 55 conventional areas that exceeded their peak production, while it was defined that Banco Santander will be in charge of the operation. The state oil company will thus seek to focus on Vaca Muerta.
The decision of the YPF administration seeks that these areas be exploited by smaller or independent operators, with the aim of providing continuity to the activity and optimizing the production of these mature fields.
The 55 areas are located in Mendoza, Río Negro, Chubut, Neuquén and Tierra del Fuego. They have been divided into 17 clusters (groups) to facilitate sales.
The financial entity that will mediate the operations has sent them an initial presentation with basic information about the areas and clusters. Companies interested in acquiring the areas must sign a confidentiality agreement to access their technical and economic information. Then, they will have 30 days to formulate specific offers.
The state company seeks to focus on the exploitation of unconventional areas, such as Vaca Muerta, which have greater production potential. The sale of these areas will allow YPF to obtain fresh resources to invest in more profitable projects.
This is only the first step in the process of selling YPF’s mature areas. In the coming weeks, the companies that will finally present offers and the price they will be willing to pay for these fields will be known. The future of the Argentine energy sector will depend largely on the success of the oil company in the exploitation of Vaca Muerta.
What are the 55 oil and gas areas that YPF intends to sell?
In Mendoza, YPF aspires to withdraw from 14 conventional areas, which were divided into three clusters: Mendoza Norte, groups the mature blocks Barrancas, Río Tunuyan, Ceferino, Mesa Verde, La Ventana and Vizcacheras. The total production of Mendoza Norte, located on the Cuyana basin, is 11,725 barrels of oil per day (bbl/d), while it adds 99 km3/d of gas.
Mendoza Sur, which is also in the Neuquén basin, contains El Portón, Chihuido de la Salina, Altiplanicie del Payún, Cañadón Amarillo, Chuhuido de la Salina S and Concluencia Sur. It produces 2,090 bbl/d of crude oil and 844 km3/d of gas. The Llancanelo cluster has the Llancanelo and Llancanelo R areas and produces 1,818 bbl/d of oil and 2 km3/d of gas.
For its part, Río Negro (two fields) has the SP-PB cluster with the Signal Picada – Punta Barda area, which produces 4,022 bbl/d of oil and 86 km3/d of gas and the EFO cluster, where the Estación field is located. Fernández Oro, with a production of 1,389 bbl/d of crude oil and 890 km3/d of gas.
Meanwhile, Chubut (five fields) has the El Trébol cluster with the El Trébol – Escalante area, with 7,112 bbl/d of oil and 38 km3/d of gas, and the Campamento Central – Cañadón Perdido cluster with the homonymous area, which reaches 1,546 bbl/d of crude oil and 5 km3/d of gas. In addition, Chubut has the cluster that brings together the El Tordillo, La Tapera and Otro Quiroga areas with 416 bbl/d of oil and 15 km3/d of gas.
The province of Neuquén (seven areas) has Neuquén Norte, which groups together the mature fields Signal Cerro Bayo, Volcán Auca Mahuida, Don Ruiz and Las Manadas and produces 2,665 bbl/d of crude oil and 121 km3/d of gas. The Neuquén Sur cluster with Al Norte del Dorsal, Octagono and Dadin has an oil production of 1,266 bbl/d and 419 km3/d of gas.
Finally, Tierra del Fuego (two blocks) has the areas in the same cluster (TDF) with the Poseidón and Magallanes fields, with a production of 1,693 bbl/d of crude oil and 1,131 km3/d of gas.
