State-controlled Argentine energy firm YPF said it will explore for oil and gas in non-traditional areas in a bid to expand the country's hydrocarbon frontiers.
The firm will carry out those efforts on the basis of the country's Argentina Exploratory Plan, which YPF launched in 2009 to assess the exploratory potential of existing sedimentary basins in 12 provinces.
"Based on the information obtained, an intense medium- and long-term exploratory plan will be launched with a primary focus on frontier exploration," YPF said in a statement.
The Argentina Exploratory Plan encompassed nine provinces that currently are not oil- and gas-producing: Buenos Aires, Entre Rios, Chaco, San Juan, Cordoba, Santa Fe, La Rioja, Tucuman and Misiones.
The program also included the hydrocarbon-producing provinces of Santa Cruz, Formosa and Salta, which are seeking to expand their production areas.
YPF, which has unveiled a $7 billion investment plan for the 2013-2017 period, has been under state control since May, when Argentina's Congress approved a bill to expropriate a 51 percent stake in the company from Spain's Repsol.
YPF, in which Repsol maintains a 12 percent stake, posted net income of 2.13 billion pesos ($461.3 million) in the first half of this year, 10.1 percent less than in the same period of 2011. EFE