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The Company

Upstream

Exploration, development and exploitation of conventional and unconventional oil and gas resources, the basic input for YPF’s chain of valuable products

This growth strategy has already produced positive results in 2014. Compared with 2011, natural gas production increased by 25% and oil production went up by 10%. That growth has also generated a significant contribution to the provinces where, in the last two years, royalties increased 125% and new jobs were created.

Exploration

YPF has relaunched its exploration activity looking for new oil and gas reserves which will contribute to the country’s growth.

YPF’s strategy entails the implementation of three types of exploration projects: low-to-medium risk programs to discover new fields in already producing basins; programs to delineate and test new pools of unconventional resources; and finally, high-risk high rewards programs to explore new frontiers such as the offshore continental shelf of Argentina.

Exploitation

The key objective is to develop and profitably produce the reserves using an asset management concept supported by a strong team of experts in the key disciplines of geosciences and engineering. To do so, we develop a deep knowledge and understanding of the subsoil, pursue operational excellence and apply cutting-edge work methodologies.

The main commercial development of shale oil and gas in the world outside North America.

YPF is the leading company in Latin America in exploration and production projects for unconventional resources. The most important formation bearing unconventional resources in Argentina is Vaca Muerta, in the province of Neuquén. In this 30,000 km² geological formation (over which YPF holds interests in an area covering 12,000 km²) is Loma Campana which in just two years has become the largest shale oil and gas field in the world outside North America and ranks second in terms of oil production in Argentina, with 40,000 BOE per day and over 300 drilled wells in partnership with Chevron, Dow and Petronas. These companies together with YPF plan to invest around 25 billion dollars in Vaca Muerta in the next few years.

Other unconventional formations

Moreover, a new source rock was discovered and drilled in the Golfo San Jorge basin (provinces of Chubut and Santa Cruz). These wells, located in the reservoir known as D-129, already tested production. Unconventional petroleum has also been found in the Agrio formation, in Filo Morado, to the north of Neuquén and to the south of Mendoza. These discoveries offer a much longer exploration horizon and reinforce the importance of Argentina's potential in this arena of unconventional resources, while they strengthen the leading role of YPF in this domain.​​​​​​