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2mo ago

YPF Says LNG Project With Eni and Adnoc Nears FID as It Launches a $150 Billion Vaca Muerta Drive

The push signals a bid to turn Vaca Muerta into a major export engine by 2030.

Marín desmanteló una sala de crisis del área de downstream que, según contó, solo servía para desayunar; la bautizó "Avocado Toast Room" y la convirtió en símbolo del cambio que impulsa en la compañía
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Overview

  • YPF, which presented at a Neuquén shale symposium Friday, said it plans to sign a final investment decision with Eni and Adnoc in the coming weeks for the Argentina LNG export project and is sounding out a possible fourth partner.
  • CEO Horacio Marín outlined a $150 billion, four‑year investment plan to scale drilling in Vaca Muerta, with a goal of more than $30 billion in annual energy exports by 2030.
  • Marín said operations have become leaner since January 2023, citing a 63% jump in drilling speed, a 15% drop in well costs, and a 42% rise in output, with more than 300,000 barrels now refined per day.
  • Eni has already flagged Argentina LNG as an expected FID in 2026 in a March SEC filing and in its 2026–2030 strategy update, adding outside validation to YPF’s timetable.
  • YPF also agreed a joint venture with Eni for an offshore block off Uruguay, with a go-or-no-go drilling decision due in December and an exploratory well targeted for late 2027 or early 2028 if approved.