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OPERATIONS | CHAÑARES HERRADOS |
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The Chañares Herrados field is located within a few kilometres
from the regional oil refinery owned and operated by Repsol-YPF
in Mendoza. Both the pipeline and the refinery have incremental
capacity and provide a highly accessible market for production
volumes. All the Chañares Herrados field oil production
is sold to the mentioned refinery.
The exploitation concession of Chañares Herrados area
was first granted to YPF by means of the Law No. 24,145 - YPF
Privatization Law. Thereafter, YPF assigned to Chañares
100% of its interest in the exploitation concession of the Chañares
Herrados area. The National Executive Branch, by means of the
Administrative Decision No. 21, dated 19 April 1996, authorized
the mentioned transfer.
This license initial term of twenty five (25) years started
in 1992 thus, its expiration will occur in 2017. The concession
may be extended for an additional term of ten (10) years, subject
to due compliance with the Hydrocarbons Law requirements and
approval by the National Executive Branch.
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