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YPF and Eni Finalize $85 Billion Vaca Muerta Buildout to Boost Gas Exports

The company projects up to $300 billion in energy exports from 2031 to 2050.

Overview

  • YPF CEO Horacio Marín said the Eni agreement constitutes a final investment decision and that the project is closed.
  • The plan targets doubling this year's average Vaca Muerta gas output and reaching 75 million cubic meters per day in exports.
  • Capital deployment includes $20 billion through 2031, $40 billion from 2031 to 2050, and roughly $25 billion for infrastructure that YPF intends to finance via RIGI and other channels.
  • Drilling activity must climb from about 210 wells in recent years to roughly 800 wells within four years to meet the goals.
  • YPF estimates about 50,000 jobs over four years and around $120 billion in tax payments, with export revenues projected to rise through 2025–2030 if current prices persist.