This process also involves carrying out an evaluation of the recoverability of the book value of said assets, which could have entailed losses of an estimated value of US$ 1.8 billion at the end of 2023.

The board of directors of the Argentine oil company YPF met this Friday to advance the approval of the project to rationalize and optimize the company's investment within the framework of the mature fields project, opening the door to selling a total of 55 fields that meet these characteristics.

This process also involves carrying out an evaluation of the recoverability of the book value of said assets, which could have entailed losses of an estimated value of US$ 1.8 billion at the end of 2023.

Mature fields or deposits are those that have already passed their "optimal production" peak. Good practices in the oil industry establish that, for large-scale companies like YPF, it is not efficient or profitable to produce oil in this type of fields, which are generally operated by smaller companies that can continue the activity.

The rationalization plan seeks to optimize the conventional upstream portfolio, allowing the company to continue developing conventional and non-conventional areas that will provide greater profitability to the company and its shareholders per dollar invested, through better allocation of its technical and economic resources.

In this process, YPF has assured that it will actively collaborate with local development and guarantee jobs during the transition, understanding that this process energizes the industry as a whole.

In turn, the company will optimize its investment, being able to concentrate on those conventional and unconventional areas that generate greater value for the company and its shareholders and are more in line with its scale.