Beccar Varela advises Petróleos Sudamericanos on YPF tender process for transfer of mature blocks
PRESS RELEASE
Buenos Aires, August 14, 2024 — Beccar Varela advised Petróleos Sudamericanos S.A. (“PS Energy”) on the tender process launched by YPF S.A. for the transfer of mature blocks, known as the Andes Project. In this process, PS Energy was awarded the Mendoza Norte cluster, which includes Barrancas, Ceferino, La Ventana, Mesa Verde, Río Tunuyán and Vizcacheras oil & gas concessions, all located in the province of Mendoza. The contract for the assignment of hydrocarbon rights was signed on August 5th. The effective transfer of the cluster to PS Energy is still subject to the fulfillment of certain conditions. The parties have not disclosed the value of the agreement.
Petróleos Sudamericanos is a company with more than 30 years of experience in the development of oil and gas exploration and production activities, currently focused on the exploitation of conventional fields in the provinces of Río Negro and Neuquén.
Beccar Varela has been advising Petróleos Sudamericanos since the beginning of its operations. On this occasion, the firm’s team was led by partner José Carlos Cueva·