Governor Ignacio Torres emphasized Chubut’s ownership of the hydrocarbon resources and ruled out tolerating any speculation or delays that threaten production continuity, fiscal income, and employment. The provincial government stressed that private negotiations between companies do not exempt YPF from its contractual obligations related to investment and field maintenance. Should the situation persist, Chubut declared readiness to revoke the concession and reassign it to an operator with proven technical and financial capability to sustain production.
The ultimatum is supported by the local oil workers’ union, with Jorge Loma Ávila, Secretary General of the Sindicato del Petróleo y Gas Privado del Chubut, demanding that inactive equipment not impede workers’ livelihoods. He called on YPF to either recommence investment and operations promptly or relinquish the concession. The province also highlighted potential accountability for YPF executives involved, citing failures to safeguard public interest during the transfer process. The escalation underscores growing tensions between provincial authorities and the nation’s flagship oil company amid a period of production decline and investment uncertainty in a key conventional oil field.
This article was curated and published as part of our South American energy market coverage.
