March 11, 2025 [Reuters]- Argentina’s state-controlled oil company YPF said on Monday it had been granted four new concessions by the government of the Patagonian province of Neuquen to exploit unconventional oil and gas in the Vaca Muerta formation.

These are the La Angostura Sur I and II, Narambuena and Aguada de la Arena blocks. The first has 249 square kilometers and the second 103.4. Both are located within the Vaca Muerta oil window, the company said in a statement.

Narambuena has 212.8 square kilometers, while Aguada de la Arena covers 111 square kilometers.

“These blocks will allow us to increase production, especially of oil, with a focus on exports,” said YPF CEO Horacio Marin.

The Argentine company Vaca Muerta Oil Sur (VMOS), controlled by YPF and made up of companies such as Pampa, Shell and Chevron, is in charge of building a new oil pipeline, called Vaca Muerta Sur, which will link Neuquén with a port on the Atlantic coast in the southern province of Rio Negro.

“The start of work on the Vaca Muerta Sur oil pipeline is the key to accelerating these developments that will allow us to generate a significant contribution of foreign currency for the country in the coming years,” Marin added.

YPF reported Friday that its adjusted EBITDA (earnings before taxes) grew 15% in 2024 from the previous year to total $4.654 billion.

The company became the country’s largest producer of unconventional oil, averaging 122,000 barrels per day, 26% more than in 2023.

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