Gazprom and YPF sign Framework Agreement of Cooperation in hydrocarbon exploration and production projects
As part of the Eastern Economic Forum, Alexey Miller, Chairman of the Gazprom Management Committee and Miguel Galuccio, Chief Executive Officer of YPF signed today in Vladivostok a Framework Agreement of Cooperation in exploration and production projects.
The document outlines the key principles of the cooperation between the companies within a number of ambitious projects for hydrocarbon exploration and production in Argentina.
“The Agreement we signed today is of great importance for strengthening the strategic partnership relations between our companies. Joint exploration and production activities in Argentina will give a considerable momentum to the oil & gas industry development in the Republic,” said Alexey Miller.
YPF is the main oil and gas producer in Argentina, leading in every industry segment (exploration, production, refining, distribution and sales) with a domestic market share of over 43 per cent. It currently employs 74,000 people. The company operates three strategically located refineries in the country and a network of over 1,500 filling stations.
In April 2015 Gazprom and YPF inked a Memorandum of Cooperation in such areas as exploration, production and transmission of hydrocarbons in Argentina and third countries.