YPF closed the stage of receiving offers for the sale of its mature conventional blocks, within the framework of what they are calling the Andes Project. According to the company, over 30 national and international companies were behind the more than 60 offers tendered for the oil fields. The Andes Project extends to 30 conventional areas grouped into 11 clusters in the provinces of Mendoza, Neuquén, Río Negro, and Chubut. “Argentina is currently inefficient with conventional [oil]; we are 50-50 with shale, and that’s why we are going to divest without breaking social peace. We want to reach an 80-20 in favor of non-conventional [oil],” an YPF source stated.

Source: Bueno Aires Herald June 11, 2024 19:59 UTC