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YPF in brief

Commit to rejuvenate mature fields and develop massively unconventional resources

Headquartered in the Buenos Aires, YPF CORPORATION SA (YPF), is listed in Buenos Aires and NYSE as the largest energy company in Argentina.

Established as a national sense, professional, competitive, integrated from the wellhead to the consumer, YPF is operating as the national oil companies (NOCs) in the various segments of its integrated business model covering upstream, downstream, marketing and distribution.

Upstream,  YPF is the:

 – Leading oil producer in Argentina with 530,000 b/d of barrel oil equivalent (boe)

 – First producer of natural gas in South America.

 – Operator in 26 onshore and offshore blocks located in the Neuquen basin, San Jorge Gulf, Cuyo, Northwestern and Southern.

 – Owner of YPF SA Oil Services established in 2010 in order to perform drilling operations and well services.

Downstream, YPF holds:

 – 52% of Argentina’s refining capacities located in La Plata (Buenos Aires), Lujan de Cuyo (Mendoza) and Plaza Huincul (Neuquén)

 – One of the largest petrochemicals activity with complexes Ensenada ( Province of Buenos Aires) and Plaza Huincul (Neuquén)

 – 50% of Profértilworld leader in nitrogen fertilizers.

In addition to its oil and gas and petrochemicals operations, YPS holds engineering, construction and services with the AESA company that integrates the activities of engineering, manufacturing, construction, operation and maintenance of plants and sites.

As the largest natural gas producer in South America, YPF control the MEGA Company specialized in  natural gas separation and fractionation, recovering ethane and condensate for the petrochemicals industry.

Abroad YPF, run operation in Guyana as part of the consortium of Block Georgetown, Republic of Guyana.

YPF Key Figures

 – 2010 Revenues: $10,2 billion

 – 2009 Revenues: $7,9 billion

 – 2011 Earnings: $1,2 billion

 – 2010 Earnings: $1,3 billion

 – 2009 Earnings: $0,8 billion

 – 2011 Capital Expenditure: $3,1 billion

 – 2010 Capital Expenditure :$2 billion

 – 2009 Capital Expenditure: $1,3 billion

YPF Projects and Business Highlights

Over the last ten years Argentina has left its oil and gas fields maturing because of a tax system leading companies to under invest in exploration production.

This lack of capital expenditure came in the same time as Argentina energy consumption started to increase, so that since 2008 Argentina’s natural gas production cannot meet the local demand.

In addition and on actual trends, Argentina should fall in oil shortage by 2013.

This deteriorating situation created a conflict with the Spanish company Repsol, as main owner of YPF with 51% shares, and alleged by the Argentine Government to have missed its duties in developing resources in due time.

Argentine Government seized the 51% shares of YPF held by Repsol and is now running the company directly.

One of the main reason of the conflict lies in the giant discoveries of unconventional resources made in Argentina these last years.

According to the survey made by the US Energy Information Administration (EIA) and Advanced Resources International, Argentina would hold unconventional gas reserves representing the equivalent of 300 years consumption in its shale gas formations.

On January 2012, the Argentine proven reserves of conventional gas were estimated to 13.4 trillion cubic feet (tcf) but the shale gas would retain 774tcf of recoverable reserves of natural gas.

With these reserves, Argentina becomes the third world third largest country after USA and China of shale gas reserves.

More than half of these shale gas resources are concentrated in Vaca Muerta shale formation in the Neuquen basin.

In addition Argentina would hold in this Loma La lata field 741 million of recoverable shale oil.

To develop these resources, Argentina created the Petroleum Plus program to develop the 2.5 billion barrels of conventional proven reserves and unexplored unconventional resources of natural gas and of shale oil.

All the companies operating in Argentina are invited to participate with YPF to this Petroleum plus program, in beginning with Chevron Corporation (Chevron)  who signed a memorandum of understanding to explore and develop the local unconventional resources in oil and gas within the Vaca Muerta area of the Neuquen basin where Chevron holds already exploration licenses.

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer


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