YPF will launch exploratory drilling in Uruguay’s OFF-5 block between late 2027 and early 2028. Chairman Horacio Marín expects the area's potential to exceed Argentina’s Vaca Muerta shale play.
The OFF-5 block is located 200 kilometers off the Uruguayan coast. YPF agreed to transfer a 50% stake and operatorship to Italian energy firm Eni.
Uruguay’s executive branch must still approve the deal with Eni. Geological links to Namibia’s Orange basin discoveries support the project’s high expectations.