Argentina's YPF teams up with Eni for exploration in offshore Uruguay

YPF SA

25/11/2025 17:29

MILAN, Nov 25 (Reuters) - Italian energy group Eni ENI.MI said on Tuesday it had signed an agreement with Argentina's state oil producer YPF YPFDm.BA to acquire a 50% stake and operatorship in the exploration block OFF-5, in Uruguay's offshore.

The block, currently operated by a company fully owned by YPF, is in its first exploration period.

Eni said the block is highly prospective and strengthens its exploration portfolio, which combines near-field and infrastructure-led prospects with selected high-impact opportunities.

The deal will take effect after approval by Uruguay's authorities.

The agreement builds on Eni's existing collaboration with YPF in the development of gas resources from the Vaca Muerta field in Argentina.

 (Reporting by Francesca Landini, editing by Gavin Jones)

 ((francesca.landini@thomsonreuters.com; +39 02 66129437; Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))