The state oil company YPF has decided to withdraw its operations in the north of Santa Cruz and Tierra del Fuego . This will result in a significant loss of employment in the sector.

This is a plan that involves a huge cut in staff with the aim of restructuring and reducing its staff by more than 50% , through a voluntary retirement program for some 2,500 workers .

The transition is expected to be completed on February 28, 2025 , given that the company has offered employees a 120% severance package for those who accept voluntary retirements until January 31 , which will be reduced to 100% in February .

Those who retire will receive 13 salaries and an additional 20% bonus corresponding to the first month of the year. This departure affects both YPF's direct employees and employees of outsourced companies related to drilling operations.

Uncertainty extends to the workers of Tierra del Fuego , who expressed their confusion about their work situation. They said that, so far, they have not received clear answers about possible layoffs , the departure of YPF and the new operators.

The General Secretary of the Private Oil and Gas Union , Luis Sosa , stressed his concern . He indicated that, despite having recently achieved a salary increase , the situation regarding the future of YPF and the operators that will replace it is uncertain .

The situation is further complicated by rumors about new operators that could replace YPF . Although Sosa acknowledged that the sector is waiting for investments that will help sustain employment, he also emphasized that the lack of information about the future of work in the industry is causing concern among workers to grow every day.

“We don’t know what they are going to do with YPF, when they are going to tell us something, what company is going to come in their place,” Sosa stressed . “What interests us, beyond YPF and any other company, is to maintain the jobs of the colleagues who are currently here. That is the first step we want to know, what company is going to come in place of YPF, so we can sit down and talk with the new company.”

FOUNTAIN:

WELLHEAD