From the Field
YPF to up Argentina investment, Total scales down
BUENOS AIRES, October 29, 2018 – YPF is planning to invest between USD 4 billion and USD 5 billion per year until 2022 in E&P in Argentina even as Total has paused a gas development, international media reported on Friday.
The NOC hopes to increase output by 5-7% per year, Reuters reported, with much of that coming from unconventional projects. YPF is to spend USD 3.6 billion on infrastructure in the Vaca Muerta Formation, the report added.
The news came as Total shelved development plans for the offshore Fenix gas project due to uncertainties related to gas pricing in the context of Argentina’s economic crisis, S&P Global Platts reported.