Profile: YPF SA (YPF.N)
24 Mar 2017
YPF Sociedad Anonima (YPF), incorporated on June 02, 1977, is an energy company. The Company is operating a fully integrated oil and gas chain. The Company operates through the segments, including Exploration and Production, Downstream, and Corporate and Other. The Company's Exploration and Production segment includes exploration and production activities, natural gas and crude oil purchases, sales of natural gas, and crude oil, to third parties and intersegment sales of crude oil, natural gas and its byproducts. The Company's Downstream segment is engaged in the refining, transport, purchase of crude oil and natural gas from third parties and intersegment sales, and marketing of crude oil, natural gas, refined products, petrochemicals, electric power generation and natural gas distribution. The Company's Corporate and Other segment carries out other activities.
Exploration and Production
As of December 31, 2015, the Company's portfolio includes 1,400 projects to develop proved, probable and possible reserves, in addition to contingent and prospective resources related to future developments and exploration activity. The Company focuses on Loma Campana Area, El Orejano Area, La Amarga Chica Area and Chihuido de la Sierra Negra Sudeste-Narambuena Area. As of December 31, 2015, Puesto Hernandez produced over 9,100 barrels a day of light crude oil. The Company has interests in Puesto Cortadera, Loma Negra NI, Cutral Co Sur, Neuquen del Medio, Collon Cura Bloque I and Bajo Baguales. As of December 31, 2015, the Company held 146 exploration permits and production concessions in Argentina. As of December 31, 2015, the Company directly operated 113 of them, including 34 exploration permits and 79 production concessions. As of December 31, 2015, the Company held 38 exploration permits in Argentina, 34 of which were onshore exploration permits and four of which were offshore exploration permits. As of December 31, 2015, the Company had 108 production concessions in Argentina. As of December 31, 2015, in addition, the Company had 31 crude oil treatment plants and seven pumping plants where oil is processed and stored. As of December 31, 2015, the Company participated in 30 exploration and 32 production joint ventures and contractual arrangements in Argentina.
As of December 31, 2015, the Company had 35-year exploitation permits for the Bandurria Sur block and requested 35-year exploitation permits for the La Ribera I & II blocks. The Company holds interest in Bandurria, Chihuido de la Sierra Negra and Bajo del Toro blocks. The Company focuses on Los Caldenes (gas), Paso de las Bardas (gas), Payun Oeste (oil) (two wells), Altiplanicie del Payun (oil), Las Tacanas (gas), Loma la Lata-Sierra Barrosa (gas), Octogono (oil), Chachahuen Sur (oil), El Manzano Este (oil) and Puntilla del Huican (oil). As of December 31, 2015, the Company participates in three offshore blocks in association with ENARSA (E1 block: YPF 35%, E2 block: YPF 33% and E3 block: YPF 30%) with total acreage of 23,700 square kilometers. The Company focuses on Loma La Lata field, Aguada Toledo-Sierra Barrosa field, Octogono block, Chihuido de la Sierra Negra field, Volcan Auca Mahuida and Las Manadas blocks, Cerro Hamaca Noroeste field, Puesto Hernandez block, Bardita Zapala field, Portezuelos field, Portezuelos Oeste field, Ranquil Co field, Guanaco field and Huincul field.
The Company's Rio Negro Concessions include Los Caldenes block, Senal Picada-Punta Barda block, Los Ramblones field, Punta Rosada field and Estacion Fernandez Oro block. The Company's Mendoza Norte concession includes Barrancas block, La Ventana block, Vizcacheras block, Llancanelo block, El Manzano block and Cerro Fortunoso block. The Company's Mendoza Sur YPF concessions include Desfiladero Bayo area, Chachahuen Sur block, Canadon Amarillo block, Paso Bardas Norte block, Puesto Molina block, El Porton block and Chihuido de la Salina block. The Company also focuses on Manantiales Behr block, El Trebol-Escalante block, Zona Central-Canadon Perdido block, Restinga Ali block, Santa Cruz and Tierra del Fuego. The Company's Development activities include El Tordillo and La Tapera-Puesto Quiroga blocks, Magallanes block, Aguada Pichana block, Lindero Atravesado block and Aguarague block.
The Company's Downstream segment is organized into four divisions: refining and logistic division, domestic marketing division, LPG general division and chemicals. The Company markets a range of refined petroleum products throughout Argentina through a network of sales personnel, YPF-owned and independent distributors, and a retail distribution system. In addition, the Company exports refined products, mainly from the port at La Plata. The refined petroleum products marketed by the Company include gasoline, diesel, jet fuel, kerosene, heavy fuel oil and other crude oil products, such as motor oils, industrial lubricants, liquefied petroleum gas (LPG) and asphalts. The Company owns and operates three refineries in Argentina: La Plata refinery, located in the province of Buenos Aires; Lujan de Cuyo refinery, located in the province of Mendoza, and Plaza Huincul refinery, located in the province of Neuquen. As of December 31, 2015, the Company's refinery had an aggregate refining capacity of approximately 319,500 barrels of oil equivalent per day (BOE/D). As of December 31, 2015, the Company's La Plata refinery had a nominal capacity of 189,000 barrels per day (bbl/d). As of December 31, 2015, the Company's Lujan de Cuyo refinery had a nominal capacity of 105,500 bbl/d. As of December 31, 2015, the Company's Plaza Huincul refinery, which is located in the province of Neuquen had an installed capacity of 25,000 bbl/d.
As of December 31, 2015, the Company's crude oil transportation network includes approximately 2,700 kilometers of crude oil pipelines with approximately 640,000 barrels of aggregate daily transportation capacity of refined products. As of December 31, 2015, the Company had total crude oil tankage of approximately seven one million barrels (mmbbl) and maintains terminal facilities at five Argentine ports. The Company owns approximately two crude oil pipelines in Argentina. One connects Puesto Hernandez to the Lujan de Cuyo refinery (528 kilometers), and the other connects Puerto Rosales to the La Plata refinery (585 kilometers) and extends to Shell's refinery in Dock Sud at the Buenos Aires port (another 52 kilometers).
The Company's Trading Division sells refined products and crude oil to international customers and crude oil to domestic oil companies. Exports may include crude oil, unleaded gasoline, diesel, fuel oil, LPG, light naphtha and virgin naphtha. The Company's Trading Division exports mainly to countries in South America, Africa and North America. The Company's Marketing Division supplies gasoline, diesel, LPG and other petroleum products throughout the country and other countries in the region. The Company supplies to various industries, including retail, transport and agriculture. The Company is engaged in the LPG wholesale business, which encompasses LPG storage, logistics and commercialization to domestic and foreign markets. In addition to butane and propane, the Company also sells propellants, used in the aerosols manufacturing processes.
As of December 31, 2015, the Retail Division's sales network in Argentina consisted of 1,538 retail service stations. As of December 31, 2015, Operadora de Estaciones de Servicios S.A. (OPESSA), its subsidiary, actively operated 174 retail service stations of which 89 are owned by YPF, 27 are leased to the Automovil Club Argentino and 58 are leased to independent owners. As of December 31, 2015, the Company's Agriculture Division provided diesel, fertilizers, lubricants, agrochemicals, and ensiling bags (silobolsa), among other products, directly or through a network of 105 wholesaler bases (nine owned by YPF), and offered a portfolio of products to agricultural producers, including the delivery of products to the consumption site. The Company's Industry Division supplies the national industry and transportation (ground and air) sectors' needs, consisting of a portfolio of products and services. The Company's Industry Division develops specific solutions for the mining, oil and gas, aviation, transport, infrastructure and construction sectors.
Through its LPG Division, the Company sells LPG to the foreign market, the domestic wholesale market and to distributors that supply the domestic retail market. The LPG Division obtains LPG from natural gas processing plants and from its refineries and petrochemical plants. The Company's Petrochemicals are produced at its petrochemical facilities in Ensenada and Plaza Huincul.
The Company competes with Axion, Shell and Petrobras.
Avenida Pte R Saenz 777-8 Piso
BUENOS AIRES C1106BKK