The governor of Santa Cruz, Claudio Vidal, and the president of YPF, Horacio Marín, signed a Memorandum of Understanding (MOU) that marks the beginning of the transfer of 10 conventional areas that the oil company operates in the province.
The agreement also establishes a commitment to remediate the environmental liabilities accumulated over the years.
Strategic transfer with local impact
Through the memorandum, the parties —Santa Cruz, Formicruz (provincial state energy company), and YPF— commit to negotiating a definitive agreement that includes the transfer of exploitation concessions to Formicruz, an environmental remediation program, and the formalization of the corresponding well abandonments.
"The province will be able to advance in the development of a new ecosystem of SMEs that will continue to enhance conventional activity," expressed Horacio Marín, head of YPF, and emphasized that the company will focus its efforts on the 4x4 strategy, its new expansion axis.
The blocks involved in the agreement are: Cerro Piedra-Cerro Guadal Norte, Barranca Yankowsky, Los Monos, El Guadal-Lomas del Cuy, Cañadón Vasco, Cañadón Yatel, Pico Truncado-El Cordón, Los Perales–Las Mesetas, Cañadón León-Meseta Espinosa, Cañadón de la Escondida-Las Heras, and the related transportation concessions.
