The Minister of Economy, Sergio Massa, and the president of YPF, Pablo González, analyzed this Thursday the company’s investment plan for this year and its main projects.
YPF closed 2022 with an investment of more than US$ 4,000 million and a production growth of 9%, And for this year, it estimates greater investments in projects that will allow the generation of energy that the country needs and turn it into an oil and gas exporter, contributing foreign currency to finance the development of its economy.
Massa and González analyzed the progress of different hydrocarbon transportation projects that are strategic for the development of Vaca Muerta and in the construction of rehabilitation of the trans-Andean pipeline that will allow the export of crude oil to Chile and the Pacific markets, YPF detailed in a statement.
The pipeline has an extension of 427 kilometers from Puerto Hernández, in Neuquén, to the ENAP Refinery, in Biobío, Chile, and is operated by a company made up of Chevron, ENAP and YPF.
During the meeting, González also presented the details of a key work for the export of crude oil what is the project called South Dead Cow” with an estimated investment of US$ 1,200 million and an execution period of two years.
The goal of the initiative is unite the most productive YPF blocks in Vaca Muerta with Punta Coloradain the province of Río Negro, through a 700 kilometer long oil pipeline.
In addition, the construction of a storage terminal and the installation of two monobuoys for loading large ships.
Massa and González also analyzed the progress of the LNG project that YPF and Petronas they seek to develop in the country with an initial investment of US$ 10,000 million and a final production capacity of 19 MTPA (million tons per year).
A few days ago, González received the new CEO of Petronas E&P Argentina, Nazri Idzlan Malekwith whom he continued the analysis of the project that will make Argentina a net exporter of LNG from the development of Vaca Muerta, the second unconventional gas reserve in the world.
Finally, they addressed the agenda of the energy transition where YPF plays a very important role through the production of renewable energy and the development of lithium value chain.
With YPF Lightthe company ranks as the second renewable energy generator in the country with an installed capacity of 400 MW and is advancing with the start-up of its first solar park in the province of San Juan, among other investments.
Also, with YPF Lithium began its first exploratory project in the province of Catamarca together with Camyen.
In addition, he inaugurated with Y-TECand together with the Ministry of Science and Technology, CONICET and the National University of La Plata, the first lithium battery plantwhich will allow the development of the technological package to add value to the production of this mineral in the country.
