May 20, 2013
Galuccio presents YPF US$37.2 billion plan
Miguel Galuccio, President and CEO of recently expropriated YPF, presented an assessment report on his first 100 days in charge of the oil and gas giant, and launched a new plan for the 2013-2017 period.
The "100-day Plan" was officially launched on May 7th with the objective of reactivating the company’s production and seek new investments to help in the development of oil wells, was released at YPF´s Puerto Madero building.
Now Galuccio has taken it to a second phase, in which the company calls for $37.2 billion pesos investment until 2017.
According to the CEO, the company will pay at least US$32.6 billion with the profits made with its own resources.
Thus, YPF seeks to increase its oil and gas production in a 32 percentage, and gasoline and diesel by 37 percent by the end of the investment plan.
In case the energy giant doesn't find a key partner to exploit oil wells, YPF will cut its 2013-2017 plan to u$s 24.7 billions.