The company has signed the transfer of the Mendoza Norte cluster with the company Petróleos Sudamericanos and the two areas of Llancanelo with the firm PCR. Also, progress was made with the transfer to the operator Velitec of the Signal Picada/Punta Barda area located in the provinces of Río Negro and Neuquén.

The Argentine oil company YPF has signed the first six agreements for the sale of 15 mature or unprofitable fields grouped into six clusters in the provinces of Rio Negro, Neuquén, Mendoza and Chubut.

Specifically, YPF has signed the transfer of the Mendoza Norte cluster with the company Petróleos Sudamericanos and the two areas of Llancanelo with the firm PCR. Also, progress was made with the transfer to the operator Velitec of the Signal Picada/Punta Barda area located in the provinces of Río Negro and Neuquén.

In the province of Chubut, the Pecom company will continue with the development of the Escalante - El Trébol and Campamento Central - Cañadón Perdido areas. Meanwhile, it was agreed with the operators Bentia Energy and Ingeniería Sima, the transfer of the four areas that comprise the Neuquén Norte cluster.

As is usual for these operations, the aforementioned assignments are subject to compliance with commercial and regulatory conditions.

"That is why, after the signing of these first agreements, YPF will submit them to each of the provincial governments who must validate the process of definitive transfer of the areas," the oil company reported in a statement.

It is expected that, in the next few hours, negotiations will advance for the conventional blocks that are still for sale and are part of the 'Andes' project. This process began in February of this year with the objective of optimizing the portfolio of upstream areas. conventional with the premise of seeking the efficiency of YPF's investment capital, allowing the company to continue developing non-conventional areas that provide greater profitability per dollar invested.

Throughout the process, carried out by Banco Santander, more than 60 offers were received from some 30 national and international companies, which demonstrates the interest of the proposal.

Mature fields are those that have already passed their "optimal" peak of production. Good practices in the oil industry establish that it is not efficient or profitable for large companies like YPF to continue producing in these types of areas. Therefore, these deposits must be operated by SMEs or smaller operators that can provide continuity to the activity.