Argentina's YPF to seek $2 billion in financing for oil pipeline in Q2 2025

Pan American Energy

20/11/2024 19:00

BUENOS AIRES, Nov 20 (Reuters) - Argentina's state-run
oil company YPF  YPFDm.BA  will seek $2 billion in financing in
the second quarter of 2025 to complete its Vaca Muerta Sur
project, a company source said on Wednesday.
    The project is being carried out by Vaca Muerta Oil Sur
(VMOS), which is controlled by YPF, and aims to transport an
additional 390,000 barrels per day from the Vaca Muerta
formation to a coastal export terminal in Rio Negro province.
    The source said that the company is seeking $1.5 billion
from foreign investors and $500 million locally and hoping to
add Pampa Energy PAMPm.BA , Vista VISTAA.MX , Shell SHEL.L ,
Chevron  CVX.N  and Pan American Energy  PAMPm.BA  as partners. 
    "This pipeline will allow more than double the oil
evacuation capacity out of Vaca Muerta," YPF CEO Horacio Marin
said at a press conference in Buenos Aires on Wednesday.
    "The VMOS project will make Argentina one of the main
exporters in the region," he added.
    The company is seeking financing for 70% of the project,
which will total around $3 billion, the source said. The
remainder will be financed with equity from the companies that
acquire capacity on the pipeline.

 (Report by Eliana Raszewski; Editing by Nicolás Misculin,
Alexander Villegas and David Gregorio)
 ((nicolas.misculin@thomsonreuters.com; X: @ReutersLatam;))