YPF found a mega gas field that would give “16 years of gas reserves” to Argentina

City of Buenos Aires, December 7, 2010

Sebastián Eskenazi, vice president and CEO of YPF-Argentina, gave the balance of the work of the company’s Exploration and Production Program 2010-2014 of the oil enterprise.

Eskenazi spoke of the finding of an unconventional gas reservoir in Neuquen and said “we went to an expectation of 16 years of gas reserves,” which “makes me very proud as an Argentine.”

“Look at the small area covered by this finding,” said the vice president of the oil, who stressed the “great job of the YPF team.”

The President, Cristina Fernandez de Kirchner, took the floor to emphasize that in this way, “we do not have to import oil” for the first time in years.

The president said “it is the first time that we lose no oil reserves,” and explained that the findings confirm that remain would ensure reserves for 50 years, and much lower fuel prices.

“The market is pulling the country’s growth” so that “a company can announce an investment of such magnitude.”