Argentina's YPF anticipates La Angostura Sur will produce 80,000 bpd over the next few years

Maximiliano W. Westen, Vice President of Strategy at YPF, said that the company expects to produce more than 80,000 barrels a day in its La Angostura Sur Block over the next few years.

YPF executives told analysts that despite reporting a loss of $198m in the third quarter, they are on track to meet their 2025 forecast, as shale production has surged.

The company expects to surpass its December 2025 target of 190,000 barrels a day.

Argentina depends on the Vaca Muerta operation of the company in its drive to become a Net Energy Exporter, as this huge formation is responsible for 64% the country's production of oil.

Westen stated that "Argentina’s LNG project unlocks Vaca Muerta’s full potential, enabling it to export its unconventional shale-gas production around the world."

Only 8% is currently under development. YPF, which has sought financing for its liquefied gas project this year, reached an agreement earlier this month with Abu Dhabi National Oil Company’s XRG Investment arm.

Westen said that the company does not plan to make any mergers or purchases next year in order to develop Vaca Muerta and its other assets. (Reporting and editing by Kyrky Madry; Aida Pelaez Fernandez)

(source: Reuters)