He Government of Mendoza confirmed that YPF received more than one offer in each of the three packages of mature areas that the state oil company is seeking to sell and that are located in provincial territory.
These areas are included within the ““Andes Project”the name of the sale operation carried out by YPF for the concession of 55 mature areas located, in addition to Mendoza, in Chubut, Santa Cruz, Neuquen, Black river and Land of Fire.
The company’s strategy is clear. It seeks to let these sectors with fewer resources be exploited by smaller companies, in order to be able to focus fully on the exploitation of other areas, mainly Vaca Muerta.
In the case of Mendoza, there are 14 mature areas that, in turn, were divided into three clusters or groups:
North Mendoza: groups the mature blocks Barrancas, Río Tunuyán, Ceferino, Mesa Verde, La Ventana and Vizcacheras. The total production of this sector located in the Cuyana basin is 11,725 barrels per day of oil (bbl/d), and 99 km3/d of gas.
Mendoza South: includes the areas of El Portón, Chihuido de la Salina, Altiplanicie del Payún, Cañadón Amarillo, Chihuido de la Salina and Confluencia Sur. It has an estimated production of 2,090 bbl/d of crude oil and 844 km3/d of gas.
Llancanelo: includes Llancanelo and Llancanelo R. Its production is 1,818bbl/d of crude oil and 2 km3/d of gas.
The Ministry of Energy looks forward to this sale operation carried out by the country’s main oil company.
“YPF is selling these mature areas through Banco Santander. In the case of Mendoza, it received more than one proposal for each of the clusters, which is very positive news. Having competitors is always positive for any type of business.”explained Minister Jimena Latore.
In this sense, he explained what steps to follow until the sale of these areas is finally completed.
“Now, the company will analyze the different offers that came in, and will choose one as its potential buyer. After this, he will inform the province of his decision. It is the Executive that decides if it agrees with the chosen option, if it presents any observations or if it requests any demands that are not included in the proposal.”the official contemplated.
The decision to group the areas into groups is intended not only to streamline the sales process, but also to ensure that those less attractive areas are also purchased.
It is worth remembering that once the concession of the area is acquired, not only does the buyer have the right to exploit the resource, but also the obligation to abandon wells and remedy environmental liabilities.
The situation of the Mendoza Dead Cow
On the other hand, YPF continues to advance with the exploration of the Vaca Muerta sector located in Mendoza. The company indicated that they obtained positive results in the first stage of exploration and have already formally asked the Government for authorization to advance in the second stage.
In the document, the company requested the extension of the permit to begin a second stage of exploration for a period of four years, with an estimated investment of nearly 30 million dollars.
“We have received the request from the Hydrocarbons Directorate and we are analyzing it. We have until the authorization of the first stage of exploration ends, which is August 22. Meanwhile, the wells will continue to produce at full capacity and, in principle, if YPF accepts it, it would begin the drilling process in the first quarter of next year.”explained from the Ministry of Environment and Energy.
I like it:
I like Charging…
