YPF and Tierra del Fuego signed an agreement to transfer seven conventional areas to the provincial company Terra Ignis
"I want to thank the governor of Tierra del Fuego for this agreement, which is an important step to boost hydrocarbon production in the province, while also giving us the opportunity to continue focusing the company's efforts on the development of Vaca Muerta," stated Horacio Marín, president and CEO of YPF.
The agreement is part of YPF's 4x4 strategy, which aims for more efficient capital management, focusing on high-impact projects and the generation of energy exports.
YPF's 4x4 plan includes four essential pillars: operational efficiency, portfolio optimization, development of Vaca Muerta, and expansion of strategic projects. The transfer of the conventional areas to Terra Ignis directly responds to this strategy.
According to the company, this asset reassignment will allow investments to be directed toward projects that could enable exports of USD 30 billion by 2030.
The transfer of areas marks a milestone in the relationship between YPF and Tierra del Fuego, strengthening the role of the provincial company and consolidating the path toward an energy model that combines local development with an export-oriented vision.
With this agreement, YPF reinforces its position as a key driver of Argentina's energy transformation, aiming for Vaca Muerta's resources to become one of the country's main sources of foreign currency.
The governor of Tierra del Fuego, Gustavo Melella, and the president and CEO of YPF, Horacio Marín, signed a Memorandum of Understanding (MOU) in Buenos Aires to move forward with the transfer of seven conventional areas operated by the oil company in the province.
The areas included in the agreement are Los Chorrillos, Lago Fuego, and fractions A, B, C, D, and E of Tierra del Fuego. The transfer is part of the company's strategy to optimize its asset portfolio and strengthen the development of Vaca Muerta.
The transfer will be in favor of Terra Ignis, the energy company created by the Government of Tierra del Fuego to boost local production. With this transfer, the province seeks to consolidate its energy autonomy and maximize the resources available in its territory.
Governor Melella highlighted the importance of the agreement as a step toward greater provincial participation in the hydrocarbon industry.
