YPFs proved reserves fall 16.42% to 87 Bcm

摘要

YPF, Argentina’s biggest oil and gas company, said in a statement to the country’s National Securities Commission (CNV), that its proved reserves at the end of December 2008 retreated by 16.42% to 87 Bcm from 108 Bcm the year before. The rapid fall in YPF’s proved reserves, which started on their downward decline following government intervention in 2001, reveal the bleak state of gas reserves in Argentina. During 2000, the country’s proved reserves peaked at 777.6 Bcm, while those reported by YPF stood at 281.9 Bcm, according to Argentine hydrocarbons association IAPG. By 2007, however, Argentina’s and YPF’s reserves had plummeted by 43.16% and 55% to 441.9 Bcm and 126.8 Bcm, respectively.