Printer Friendly

YPF COMMENCES PRIVATIZATION OF NORTHWEST BASIN PROPERTIES

 YPF COMMENCES PRIVATIZATION OF NORTHWEST BASIN PROPERTIES
 BUENOS AIRES, Argentina, March 17 /PRNewswire/ -- Pursuant to the Argentine Ministry of Economy Resolution No. 273, YPF Sociedad Anonima today announced the continuation of its successful privatization program with the offering of properties in the Northwest Basin of Argentina.
 The properties include proved and probable reserves of over 95 million barrels of oil and condensate, 2.1 trillion cubic feet of natural gas, and 2.9 metric tons of liquified petroleum gas (LPG), as well as over 8 million acres of exploration area. In addition, the properties include a 30,000 barrel per day oil refinery, two turbo- expanders for the extraction of natural gas liquids with combined capacity of 600 million cubic feet per day, and a 1,100 kilometer clean products pipeline.
 Said YPF President Jose "Pepe" Estenssoro, "We have been pleased with the results of the privatizations in the Austral Basin and the Central Areas, and look forward to similar high levels of interest in the Northwest properties."
 The first phase of the privatization process is an information stage, where interested parties meeting the financial prerequisites and paying an information access fee will be admitted to data rooms established in Buenos Aires and Dallas. As was the case with the Austral privatization, the process is being coordinated by YPF's financial advisors, Morgan Stanley & Co. Incorporated and Roberts Capital Markets, S.A.
 YPF Sociedad Anonima, the Argentine state-owned company, is engaged in the exploration, development, production, refining, processing and marketing of oil and gas, and is presently conducting a transformation and restructuring process to reach international efficiency standards.
 -0- 3/17/92
 /CONTACT: Enrique Pourteau of YPF, 54-1-326-2899, or Harry van Dyke of Morgan Stanley, 212-703-7473, or Marcelo Galmarini of Roberts Capital Markets, 54-1-331-5874/ CO: YPF Sociedad Anon ST: IN: FIN SU:


CK -- NY058 -- 8774 03/17/92 12:41 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 17, 1992
Words:310
Previous Article:TRANSMEDIA NETWORK DECLARES 3-FOR 2 STOCK SPLIT IN THE FORM OF 50 PERCENT STOCK DIVIDEND; ANNOUNCES PROMOTIONS & NEW CORPORATE OFFICES
Next Article:NOTED PHYSICIAN ELECTED TO MEDTRONIC BOARD
Topics:


Related Articles
YPA S.A. REPORTS SECOND QUARTER 1993 RESULTS
YPF SOCIEDAD ANONIMA AND TOTAL PARTNERS SIGN CONTRACT
YPF COMMENCES OFFERING OF STRUCTURED EXPORT NOTES
YPF Signs First Joint Venture Contract With Petrobras.
Repsol-YPF ready for drilling.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters