Wednesday , January 20 2021

Why YPF paid $ 270 million to the province

The Mendoza government has utilized oilfields that do not work, which can be re-auctioned. This happened after an agreement between the province and YPF, which paid 270 million pesos for investment mismatch.

The history of the San Rafael and Ñacuñán districts began in 2008 when the Celso Jaque leadership awarded them to two companies in the Vila-Manzano group: Kilwer and Ketsal. Subsequently, they sold the rights of the former Repsol-YPF.

Following the nationalization of the oil company in 2012, none of the areas were relevant to YPF, as they did not have any geological interest. "YPF chose to pay the sums that are not invested and thus leave the free space for other operators," the government said now.

The ministry of energy said that "this is about the normalization of the oil pipeline in the province, a process whereby the eight areas were reversed to be returned to production."

"The Mendoza Province intends to redeem the offerings in the regions in the next talks following the successes of the Los Parlamentos and Puesto Pozo Cercado regions, which also turned during the same process and were now traded with large investments in progress," they added.


  • butter
  • YPF
  • Ketsal
  • Kilwer
  • oil auction
  • Reverse oil zones

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