BUENOS AIRES (Reuters) – Argentina’s state-run oil company YPF will seek $2 billion in financing in the second quarter of 2025 to complete its Vaca Muerta Sur project, a company source said on Wednesday.
The project is being carried out by Vaca Muerta Oil Sur (VMOS), which is controlled by YPF, and aims to transport an additional 390,000 barrels per day from the Vaca Muerta formation to a coastal export terminal in Rio Negro province.
The source said that the company is seeking $1.5 billion from foreign investors and $500 million locally and hoping to add Pampa Energy, Vista, Shell (LON:), Chevron (NYSE:) and Pan American Energy as partners.
“This pipeline will allow more than double the oil evacuation capacity out of Vaca Muerta,” YPF CEO Horacio Marin said at a press conference in Buenos Aires on Wednesday.
“The VMOS project will make Argentina one of the main exporters in the region,” he added.
The company is seeking financing for 70% of the project, which will total around $3 billion, the source said. The remainder will be financed with equity from the companies that acquire capacity on the pipeline.
(Report by Eliana Raszewski; Editing by Nicolás Misculin, Alexander Villegas and David Gregorio)