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Investments in Joint Operations | 12 Months Ended
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Dec. 31, 2018
Investments accounted for using equity method [abstract] |
Investments in Joint Operations |
24. | INVESTMENTS IN JOINT OPERATIONS
The Group participates in JO and other agreements that give to the Group a contractually established percentage over the rights of the assets and obligations that emerge from the contracts. Interest in such JO have been consolidated line by line on the basis of the mentioned interest over the assets, liabilities, income and expenses related to each contract. Interest in JO have been calculated based upon the latest available financial statements as of the end of each year, taking into consideration significant subsequent events and transactions as well as management information available. The exploration and production JO and other agreements in which YPF participates allocate the hydrocarbon production to each partner based on the ownership interest; consequently, such hydrocarbons are commercialized directly by the partners recognizing each of them the corresponding economic effects. The assets and liabilities as of December 31, 2018, 2017 and 2016, and expenses for the three fiscal years ended on December 31, 2018, 2017 and 2016 of the JO and other agreements in which the Group participates are as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
Noncurrent assets(1) |  |  | 130,272 |  |  |  | 66,887 |  |  |  | 63,145 |
Current assets |  |  | 4,024 |  |  |  | 2,417 |  |  |  | 2,602 |
Total assets |  |  | 134,296 |  |  |  | 69,304 |  |  |  | 65,747 |
Noncurrent liabilities |  |  | 11,484 |  |  |  | 5,876 |  |  |  | 5,946 |
Current liabilities |  |  | 9,695 |  |  |  | 5,524 |  |  |  | 6,293 |
Total liabilities |  |  | 21,179 |  |  |  | 11,400 |  |  |  | 12,239 |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Production cost |  |  | 39,713 |  |  |  | 24,471 |  |  |  | 21,624 |
Exploration expenses |  |  | 242 |  |  |  | 767 |  |  |  | 849 |
(1) | It does not include charges for impairment of property, plant and equipment because they are recorded by the partners participating in the JO
As of December 31, 2018, the main exploration and production JO in which the Group participates are the following:
Name |  | Location |  | Participation |  |  | Operator
Acambuco |  | Salta |  |  | 22.50 | % |  | Pan American Energy LLC
Aguada Pichana - Area Vaca Muerta |  | Neuquén |  |  | 22.50 | % |  | Total Austral S.A.
Aguada Pichana - Residual |  | Neuquén |  |  | 27.27 | % |  | Total Austral S.A.
Aguaragüe |  | Salta |  |  | 53.00 | % |  | Tecpetrol S.A.
CAM-2/A SUR |  | Tierra del Fuego |  |  | 50.00 | % |  | Enap Sipetrol Argentina S.A.
Campamento Central / Cañadón Perdido |  | Chubut |  |  | 50.00 | % |  | YPF
Consorcio CNQ 7/A |  | La Pampa and Mendoza |  |  | 50.00 | % |  | Pluspetrol Energy S.A.
El Tordillo |  | Chubut |  |  | 12.20 | % |  | Tecpetrol S.A.
La Tapera y Puesto Quiroga |  | Chubut |  |  | 12.20 | % |  | Tecpetrol S.A.
Lindero Atravesado |  | Neuquén |  |  | 37.50 | % |  | Pan American Energy LLC
Llancanelo |  | Mendoza |  |  | 61.00 | %(1) |  | YPF
Magallanes |  | Santa Cruz, Tierra del Fuego and Plataforma Continental Nacional |  |  | 50.00 | % |  | Enap Sipetrol Argentina S.A.
Loma Campana |  | Neuquén and Mendoza |  |  | 50.00 | % |  | YPF
Ramos |  | Salta |  |  | 42.00 | % |  | Pluspetrol Energy S.A.
Rincón del Mangrullo |  | Neuquén |  |  | 50.00 | % |  | YPF
San Roque |  | Neuquén |  |  | 34.11 | % |  | Total Austral S.A.
Yacimiento La Ventana – Río Tunuyán |  | Mendoza |  |  | 70.00 | % |  | YPF
Zampal Oeste |  | Mendoza |  |  | 70.00 | % |  | YPF
Narambuena |  | Neuquén |  |  | 50.00 | % |  | YPF
La Amarga Chica |  | Neuquén |  |  | 50.00 | % |  | YPF
El Orejano |  | Neuquén |  |  | 50.00 | % |  | YPF
Bajo del Toro |  | Neuquén |  |  | 50.00 | %(2) |  | YPF
Bandurria Sur |  | Neuquén |  |  | 51.00 | % |  | YPF
Aguada de Castro y Aguada Pichana Oeste |  | Neuquén |  |  | 30.00 | % |  | Pan American Energy LLC
(1) | See Note 29.b.
(2) | YPF has a direct interest of 26% and an indirect interest of 24% through Bajo del Toro I S.R.L

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