YPF brings in Eni to explore Area OFF-5 in Uruguay

YPF formalized a partnership with Italy's Eni to advance offshore exploration in Uruguay, under the hydrocarbon exploration and production contract for Area OFF-5.

As part of the agreement, Eni acquired a 50% stake in the block and took charge of operations. The company had already been carrying out activities alongside YPF in Uruguayan waters.

MIWEN, a company belonging to the YPF group, will retain the remaining 50% and will participate as a non-operating partner. In this way, the Argentine oil company will remain linked to the development of the area, though without leading operational tasks.

The partnership also expands cooperation between YPF and Eni on other energy projects. Among them is Argentina LNG, an initiative in which both companies are deepening their relationship.

With information from Ámbito — Energía.